May 15 2012

FiinResearch

Vietnam M&A Research Report 2011 - 2012


Total Page:

91 Pages

Format:

PDF

Topic:

Financial Service

Delivery:

within 1 day(s)

Vietnam M&A activities have been more active than ever. We noted that for 15 month period from January 2011 to March 2012, total M&A deal value amounted to US$8.3bn with 331 deals concluded. Japan and Greater China ranked the Top 2 countries in terms of deal value and volume. Food & Beverages, Financials and Technology were most favoured sectors by foreign firms.

 
The report comprises of 90 pages and will provide you a comprehensive analysis of the current distressed valuations of Vietnamese companies from both marco and micro economic perspectives. Vietnamese equities are currently trading at only 11x of their latest earnings. 75% of stocks are trading at below their book values and 60% stocks are under par value. In terms of M&A deals, on average foreign investors paid PE of 14.1x and P/B of 2.1x. In some transactions, P/E valuations were as low as 5x.
 
The report also include a summary factsheet for each of the 74 inbound deals such as transaction description, seller, buyer, value and valuations etc.
 
We believe the current market condition has created excellent oppotunities for foreign firms and cash rich investors to acquire local businesses at attractive valuations,  pressure to exit non-core businesses by large companies and the need to raise additional capital to survive. In addition, as the investment terms come to an end, asset managers will have to liquidtate their portfolios to return money to their investors. You will find valuable information and insights in this report.
 
We have also analysed  in the report M&A oppotunities in the financial sector due to the urgent need for recapitalisation of local banks and the Goverment restructuing programme to reduce the number of banks and potential removal of foreign ownership limit.
 
In a contribution from Indochine Counsel – a Hochiminh city based law firm to Part 7, the Report also provides concise review of M&A regulations, and practical guidance and tips to assist foreign investors in getting their M&A deals through in Vietnam – from deal exploration, due diligence onto target company and assets, deal structuring, contractual arrangements, to deal approval, registration and completion.
PREFACE 3
EXECUTIVE SUMMARY 4 – 5
1. VIETNAM ECONOMIC ENVIRONMENT 6 – 14
2. KEY M&A THEMES 15 – 21
3. VIETNAM M&A ACTIVTITY 2011-2012 REVIEW 22 – 34
4. WHY M&A NOW? AN INSIDE-OUT VIEW 35 – 43
5. M&A OPPORTUNITIES IN THE FINANCIAL SECTOR 44 – 50
6. WHAT DEAL VALUATION EXPECTED 51 – 55
7. M&A REGULATORY ROUNDUPS AND PROCEDURAL GUIDANCE 56 – 70
8. OUR METHODOLOGY 71 – 73
Annex 1: Full List of Inbound M&A Transaction Factsheet 74 – 87
Annex 2: Key Macro Economic Indicators 88
Annex 3: 2012 Forward PE Valuation of Vietnamese Stock Markets 88
Important Disclosures 89
About the Authors, StoxPlus Corporation and Indochine Counsel 90 - 91
...

Tags: Vietnam M&A, M&A Report, M&A Research, M&A 2012, M&A 2011, M&A Sector, Vietnam M&A 2012

Expert Assistance & More Information

Our expert will help you find what you need. Contact our Customer Support for more information:

Hanoi Head Office:

Monday – Friday, from 8:30 to 18:00 Vietnam Time

Ho Chi Minh Office

Monday – Friday, from 8:30 to 18:00 Vietnam Time

Related Reports


Vietnam M&A Report 2024

February 27 2024

FiinResearch

45 pages

In 2023, FiinGroup recorded 220 M&A transactions worth US$5 billion, reflecting a 33% decline from the previous year. Inbound” M&A dominated the market, comprising 80.9% of the total deal value in 2023 thanks to the aggressive acquisition from Japan, Singapore, and Malaysia investors. Domestic transactions accounted for just 15.8% of the total deal value, marking a significant decrease from the 65% proportion observed in 2022, This decline can be chiefly attributed to the challenging conditions in the macro-economic context, stringent regulatio

Consumer Finance in Vietnam FIRST-HALF 2023 REVIEW

October 30 2023

FiinResearch

35 pages

The Vietnam CF market faced significant headwinds amid macroeconomic challenges, resulting in elevated NPL ratios and diminished NIM for FinCos. Sluggish credit growth and weakened borrower asset quality were notable factors. The market also witnessed increasing fragmentation as players adopted diverse strategies to safeguard their market share in the midst of a growth slowdown

Vietnam Banking Report 2023

June 29 2023

FiinResearch

83 pages

FiinGroup’s Vietnam banking report 2022 provides an in-depth analysis of how the banking sector and selected banks performed regarding credit growth, liquidity, asset quality, capital adequacy and earnings, how banks embraced challenges to maintain growth momentum. Although downside risks placed in the credit quality of the lending portfolio and narrowing interest margin, under SBV’s flexible actions, the banking sector is expected to weather the turmoil to thrive in the upcoming time

Stay in the known with our newsletters

Subscribe