Outstanding real estate M&A deals in the first 6 months of 2019

In the first 6 months of 2019, foreign investors continued to gain the upper hand in prominent merger and acquisition events in Vietnam's real estate market.


CapitaLand completed the acquisition of Ascendas and Singbridge Pte. Ltd.


In early July, CapitalLand announced that it had finalized negotiations with Temasek and had acquired all existing stocks of Ascendas and Singbridge Pte. Ltd. The Ascendas-Singbridge merger maked Capitaland one of Asia's largest multidisciplinary real estate corporations with over $123 billion in assets under management. After having acquired Ascendas-Singbridge, CapitaLand added the OneHub Saigon project to its investment portfolio in Vietnam. This is a 12-hectare complex of commercial, industrial and transport office located at the entrance to Saigon Hi-Tech Park, adjacent to Hanoi Highway.


Hoa Binh sold stocks to Hyundai Elevator


Hoa Binh asked for a private issue of 25 million stocks for Hyundai Elevator Co., Ltd at the price of VND 23,000/stock. Expected release time was in Q2/2019. Under the cooperation agreement, Hoa Binh would provide maximum support for Hyundai Elevator to provide elevator and escalator products at projects participated by Hoa Binh as an investor or contractor. Elevator introduced Hoa Binh as a contractor for its customers in Vietnam and abroad, appointing experts to support Hoa Binh in quality control, construction management of elevators in the role of general contractor. Hyundai Elevator would provide products with competitive prices and the most preferential terms. On the basis of issuing private stocks to strategic investors, Hoa Binh would block foreign ownership at 37.5% of charter capital.


The mergers and acquisitions of real estate projects (M&A) continue to come out in the first 6 months of 2019. Artwork: Reatimes


Phat Dat cooperated with Samty Asia Investment


Phat Dat Real Estate Development Joint Stock Company signed a memorandum of understanding on investment cooperation with Samty Asia Investments Pte. Ltd. (a subsidiary of Samty Corporation) and a Japanese real estate development company through Vietnam New Urban Center LP. Through this cooperation, the USD 22.5 million investment would support a part of Phat Dat's investment which planned to develop for a number of projects, especially projects in Ho Chi Minh City. In recent times, the company has stepped up its investment strategy and development of land funds in coastal provinces and areas with high tourism development rates such as Binh Dinh and Quang Ngai.


SK Group bought Vingroup stocks


Earlier this year, Vingroup and SK Group (Korea) officially signed a strategic cooperation agreement. Accordingly, SK Group would invest about US $ 1 billion to buy Vingroup stocks and would become the strategic partner of the Group. SK Group registered to buy 154.3 million stocks issued under a separate offering from Vingroup and acquired 51.4 million secondary stocks from VinCommerce, with an average price of 113,000 VND/stock. The total transaction value was about VND 23,300 billion, equivalent to US $1 billion, the issue price was equivalent to Vingroup's current market price. After the stock offering is completed, Vingroup's chartered capital will increase to nearly VND 34,299 billion and SK will be the largest foreign shareholder holding 6% of charter capital.


VinaCapital poured US $ 4 million into a real estate brokerage company


VinaCapital Ventures, a member of fund management company VinaCapital, announced a $ 4 million investment in Rever, a real estate brokerage technology company. This was the fifth investment of VinaCapital Ventures since its establishment in 2018, after FastGo, Logivan, Urbox, and Wee Digital.


According to Phuong Uyen