Recently, Aeon Financial Services Co., Ltd. (Aeon Financial), a member of Aeon Group, announced that the contract to transfer shares of Post and Telecommunication Finance Company (PTF) from Southeast Asia Commercial Joint Stock Bank ( SeABank ) is invalid.
The reason is that this Japanese company discovered that the accounting information published before signing the share transfer contract had significant deviations from reality.
Specifically, during the PMI process (post-merger - including management, operations, systems, and post-merger organizational culture), the company discovered that inappropriate accounting transactions had been made before the time of the share buyback. Immediately after that, the company checked the matter with the advice of a lawyer.
Aeon Financial wants to cancel the acquisition of SeABank's finance company, citing the discovery of seriously incorrect accounting information before signing the deal (Photo: Manh Quan).
Previously, Aeon Financial signed an agreement with SeABank to transfer 100% of shares at Post and Telecommunication Finance Company (PTF) in October 2023, with a value of VND 4,300 billion.
The State Bank also approved the transaction earlier this year. The transfer was completed on February 3 and Postal Finance Company officially became a consolidated subsidiary of Aeon Financial.
Aeon Financial Service said it will continue to request SeABank and related parties to reimburse the costs and losses incurred, and carry out all necessary legal procedures to recover the amount paid and strictly handle legal responsibilities related to the share purchase contract.
In a recent announcement, SeABank responded that it had received an email notifying about the validity of the PTF contract between SeABank and Aeon Financial.
“This is the first time SeABank has received information from Aeon Financial on this issue. SeABank was completely surprised by Aeon Financial's unilateral announcement of information. SeABank promptly responded, requesting Aeon Financial to soon agree on an official working time between the two parties to clarify the above contents, ensuring compliance with legal regulations,” the announcement stated.
Post and Telecommunication Finance Company (PTF) was established in October 1998, and is one of the first financial companies in Vietnam with a charter capital of VND 1,550 billion. Before being acquired by a Japanese enterprise, Post and Telecommunication Finance Company (PTF) was acquired by SeABank from Vietnam Posts and Telecommunications Group ( VNPT ) in 2018.
Meanwhile, Aeon Financial is a consumer finance company under the Japanese Aeon Group, established in 1981. The company's headquarters are located in Tokyo. Aeon Financial specializes in providing financial services such as credit card issuance, consumer loans, insurance and electronic payment solutions.
Source: https://dantri.com.vn/kinh-doanh/aeon-muon-huy-thuong-vu-mua-cong-ty-tai-chinh-4300-ty-dong-tu-seabank-20250607021548105.htm
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