HANOI: Large Thai corporations have been gradually penetrating the Vietnamese market and acquiring many domestic enterprises in the last year.
Billionaire Charoen Sirivadhanabhakdi, the third richest man in Thailand, with net assets of $11.3 billion, is head of BJC, the group that acquired Metro Cash & Carry Vietnam.
Through the two subsidiaries of ThaiBev and TCC Assets, the billionaire acquired a 51% stake in the largest beverage company of Singapore – Fraser & Neave (F&N) in 2013. F&N’s subsidiary – F&N Dairy Investment – is the largest foreign shareholder of Vinamilk, Vietnam’s largest dairy company, with the ownership percentage of 9.5%.
Shortly after BJC acquired Metro Vietnam, F&N spent nearly $100 million to purchase additional shares of Vinamilk to reach 11%. Currently the shares held by F&N are valued at $540 million.
F&N has many other large investments in Vietnam, for example, its investment in Melia Hanoi Hotel, Melinh Point Tower building in Ho Chi Minh City, and Vietnam Brewery (VBL).
After the Central Group of Thailand opened two Robins retail centers in Hanoi and HCM City in late 2014, Power Buy – its electronics store chain has entered the Vietnam market, with the acquisition of 49% stake in the Nguyen Kim electronic department chain.
Robins chain is not the first retail project in Vietnam of the Central Group. Previously, the stores named Supersports, Crocs and New Balance opened in Vietnam through the distribution system of the subsidiaries of Central Group and Vietnamese franchise partners.
According to the Central Group, its opening of the two shopping centers in Vietnam is part of the plan to conquer other markets in Southeast Asia, which was approved last year.
