Japanese investors bank on  Vietnamese banks have been attracting more and more Japanese investment, mainly through mergers and acquisitions. In the middle of this month Ho Chi Minh City-based HDBank said it was in talks to sell a 30 percent stake to three undisclosed Japanese finance firms. The country caps foreign ownership of a domestic bank at 30 percent and at 20 percent for a single investor. Late last year Mitsubishi UFJ Financial Group Inc., which holds a 15 percent stake in both Eximbank and Vietcombank, bought 20 percent of Vietinbank at US$734 million. According to Hanoi-based financial data service firm StoxPlus, the purchase was the largest M&A deal in the country since the start of 2012 to this year’s first quarter end. Japanese insurer Sumitomo Life last December bought the 18 percent stake held by HSBC Vietnam in Sacombank chairman Pham Huu Phu, who said his bank plans to sell a 15 percent stake to a Japanese partner, said Japanese investors eyeing local banks are often large firms who offer excellent terms. Recof Corp., a Japanese M&A adviser, told news website Saigon Times that Japanese investors have great interest in Vietnamese banks. Tran Hoai Vu, Recof’s manager for A StoxPlus report said Many Japanese investors are shifting to Southeast Asia because of concerns over their country's political tensions with They struck 75 M&As deals in the region in the first 10 months, a record number, according to Recof. Thanh Nien News |
↧
Article 3
↧