By Mai Nguyen
This move pairs GM’s automotive expertise with VinFast’s local market insight.
The ownership of PVN in PV Power will, therefore, increase to 79.94 per cent.
OnOnPay’s existing investor, Captii Venture, also participated in this round.
This acquisition marks Sojitz’s entry into Vietnam’s household paper and containerboard manufacturing market.
The bank is expected to have earned over VND5.3 billion ($233,200) from the stake sale.
Go-Jek’s affiliate in Vietnam will go by the name of Go-Viet, while its Thai counterpart will be named GET.
Vietnam’s largest mobile device and consumer electronics retailer MWG posted net revenue of over VND37 trillion ($1.61 billion) and after-tax profit of VND1.28 trillion ($55.8 million) for the first five months.
Grab Vietnam counters saying it intends to expand GrabTaxi, which is registered with the Ministry of Industry and Commerce and licenced to operate nationwide.
Following the sale, the government will retain a 65 per cent stake in the firm. At the price of $0.4 apiece, the state is expected to earn $176.2 million from the sale.
A deal could be worth as much as $1 billion over the life of the contract, depending on how it is structured