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Bao Viet Holdings : Baoviet – HSBC deal recognized as “The best private placement deal in the last 5 years"

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08/08/2013 | 11:32am EST
  • Baoviet - HSBC deal was awarded "The best private placement deal in the last 5 years"
  • Baoviet Securities was awarded "The best M & A advisory firm in the last 5 years"

At the 2013 Vietnam M&A Forum "Opportunities in a US$5 billion market" hosted by the Investment Review and AVM Vietnam, which took place at White Palace Convention Center, Hochiminh City, Baoviet - HSBC deal was awarded "The best private placement deal in the last 5 years (2009-2013)." The deal was also recognized as the Top 2 M&A of the year at the 2010 M&A Forum.

The award result was based on the additional purchase by HSBC of 8% stake of Baoviet, increasing its ownership in the group from 10% to 18% immediately after BVH stock was listed on the Hochiminh City Stock Exchange late 2009. The increased percentage of ownership in a short period of 2 years from 9/2007 to 10/2009 has reflected the confidence of HSBC in the partnership with Baoviet.

According to Mr Hoang Viet Ha, Chief Operating Officer of Baoviet Holdings, this award has shown the group's success in selecting strategic partner and ultilising advantages of partner to create added values for both parties.

"Baoviet always strive towards our motto of "Collaboration - Innovation - Development" in the partnership with our strategic partner. We aim at achieving long-term, stable and sustainable growth. Therefore, beside our improved financial capability, the Technical Support and Transfer Capability Agreement is the commitment between Baoviet and our partner in adopting a modern corporate governance model under international standards and practices,"added Mr Ha.

During the partnership with HSBC, Baoviet has successfully implemented the first phase of the 5-year development strategy "One Baoviet - One new foundation". The strategy includes: building foundation for modern IT systems, adopting corporate governance model under international standards, implementing risk management system throughout the Group, enhancing information transparency, pioneering financial reporting system in compliance with both Vietnam Accounting Standards (VAS) and International Financial Reporting Standards (IFRS), standardizing human resource management in accordance to international practices, achieving brand consistency and renovation and continuing development of products and distribution channels.

HSBC implemented their global strategy to focus capital and resources on core business in a global scale, including Vietnamese market. Therefore, HSBC and Baoviet agreed to select Sumimoto Life Insurance Corporation (Sumimoto Life) as the ideal strategic partner of Baoviet thanks to their strength in the following areas: financial capacity; international reputation; insurance business and technical assistance. Sumimoto Life also shares a similar culture with Baoviet and commits to long-term investment in Vietnam.

In the first phase, Sumitomo Life will focus its technical assistance on 4 main areas including distribution channel strategy, strengthened information technology system to support business operations, improved customer service quality and enhanced product development and quality management, which focus on improving agent quality, claim settlement quality and risk management. With more than one hundred years of experience, the leading Japanese life insurer will support Baoviet in its life insurance business development.

At the forum, Baoviet Securities Joint-stock Company (BVSC) - a member of Baoviet Group, was also honoured as "The best M&A advisory firm 2009-2013". Being one of the leading M&A consultants in Vietnam, BVSC has been awarded twice in a row "The outstanding M&A advisory firm" at the 2011 and 2012 M&A Forum. In the last 5 years, BVSC has been advisory firm for several enterprises with outstanding deals such as the merger deal of Ki Do Joint Stock company and North Kinh Do Joint Stock company (NKD) into Kinh Do Corporation (KDC) (The best M&A deal 2011) and the merger deal of Vinpearl Joint Stock Company into Vincom Joint Stock Company, forming Vin Group (The best M&A deal 2012).

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