VN Dealbook: AAF eyes IMECO, Nojima ups stake in Tran Anh

Visual from the IMECO website

Foreign investors have been active in Vietnam’s corporate deal space. UK-based machinery firm AAF is targeting to take over Vietnam’s Mechanical and Industrial Construction, while Japan’s Nojima Corporation plans to increase its holding in Tran Anh Digital World.

AAF to fully acquire Vietnam’s industrial equipment firm IMECO

Vietnam-based Mechanical and Industrial Construction (IMECO) has recently announced that its British client AAF wants to fully acquire the company for $8 million. IMECO shareholders have authorised the board of directors to work with the UK partner.

According to IMECO, AAF has a long-term cooperation with the company, and now intends to buy it as a production unit. In the mean time, AAF will invest in machinery upgrade in the Vietnamese partner.

IMECO said in the announcement that “it is an opportunity for the company”.

The most obvious opportunity is the profit from the sale, as IMECO has some 3.6 million outstanding shares, traded at only VND8,300 ($0.38) on the UPCoM (unlisted companies) market, while AAF offer values IMECO shares at VND47,800 per unit.

The Vietnamese company produces and installs mechanical products and industrial equipment. It also manufactures construction equipment like the electric and water-supply machinery.

The company’s registered capital stands at VND36 billion. It has posted increasing profits over the past decade, and targets to make VND10.6 billion for this fiscal.

 DEALSTREETASIA could not reach the company for more details on its UK partner.

Nojima Corp increases holding in Tran Anh Digital to 30.8%

Japanese electronics retailer Nojima Corporation, the strategic shareholder of Tran Anh Digital World, will purchase an additional amount of 3.7 million shares in the Vietnamese company, between May 28 and June 12, to increase its holding to more than 30.8 per cent.

Currently, Nojima holds 10.06 per cent equity stake of in Tran Anh.

The Japanese firm’s deputy director of overseas investment, Noguchi Atshushi, is a member of Tran Anh’s board of directors.

The seller of the shares is Norwegian fund Aureos Capital, which will fully exit the Vietnamese electronics retailer.

Tran Anh is more popular in the north of Vietnam and plans to open up to nine more stores in the region. Last month, it inaugurated the fifteenth store in Bac Giang province.

The company’s profit last year reached VND3.9 billion ($181,400), and will potentially reach VND7.8 billion this year.

Also Read:

Vietnam’s Petrolimex to sell 20% to Japanese partner to reduce state holding

Vietnam’s Duc Long Gia Lai to acquire UK-based Mass Noble

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.