Representatives of SAM and My Chau Pharmacy sign a deal on Jan. 5. (Photo: nhipcaudautu.vn)
Saigon Asset Management Corporation (SAM), a Vietnam-focused fund management and investment banking firm, and My Chau Investment Corp (My Chau Pharmacy) have inked an agreement to buy a 15% stake in the latter.
The value of the deal, however, was not disclosed.
The deal is part of the pharmacy chain’s plan to expand operations and overhaul its governance. The two parties will develop online pharmacy.
With this cooperation, My Chau Pharmacy will open five to six outlets in some provinces and cities in Vietnam, aiming to expand its network to 80 in the coming three years.
Established in 2007, SAM now manages two Vietnam-focused investment funds namely Vietnam Equity Holding (VEH), which invests in Vietnamese listed equities, and Vietnam Property Holding (VPH), which invests in Vietnamese listed property-focused equities and private equity.
Since 2007, the two funds have poured over $250 million into 45 companies and projects in the Southeast Asian country.
SAM plans to set up a private equity fund, which is set to come into operation next month and focuses on the food and technology sectors.
In November 2015, struck an accord to wholly acquire shares of Heritage Beverage Corporation, the exclusive U.S. and Canada distributor of Saigon beers, products of Saigon Beer Corporation (Sabeco), the largest brewer in Vietnam.