FPT, Masan, Vinamilk… are “hunting” for and acquiring a series of foreign companies.

(Dan Tri Newspaper) - This trend, known as reverse M&A, is demonstrating a new level of maturity for Vietnam's private sector, as they are not only defensive in their home market but also capable of "hunting" on the global stage.

According to observers, the wave of mergers and acquisitions (M&A) by foreign players in the Vietnamese market is heating up again. In the past 11 months, capital flows through M&A have surged, reaching over $6 billion, a 50.7% increase compared to the same period last year.

At the beginning of December, the market was abuzz with two major deals: Kokuyo Group announced it would spend over 4.5 trillion VND to acquire a controlling stake in Thien Long Group (stock code: TLG); and Ashahi Life also announced it would soon acquire the entire stake of Manufacture Life Insurance (Manulife) in MVI Life.

The dynamism of the Vietnamese economy reflects its attractiveness, but it also raises concerns about the capabilities and initiative of domestic businesses. Few realize that, although not yet overwhelmingly prominent, the landscape has begun to change in recent years: more and more Vietnamese businesses have ventured into the global market, proactively acquiring foreign brands to expand their influence.

FPT, Masan , Vinamilk… proactively “hunt for prey”

For example,FPT Software (a member of FPT Group) continuously "hunts" for technology companies in Japan, the US, and Europe, helping the company not only increase its market share but also acquire technology, human resources, and international management standards.

Mr. Truong Gia Binh's group began its international M&A journey by acquiring 100% of RWE IT Slovakia (Germany) in June 2014. This was the first M&A deal in the history of the group in particular and the Vietnamese information technology sector in general. The deal resulted in contracts worth tens of millions of USD with RWE, expanding its customer base in the European market.

In 2018, FPT continued its expansion by acquiring 90% of the shares of Intellinet Consulting, a US-based consulting firm, for an estimated $50 million. To date, the group has completed a total of nine transactions, expanding its network in key markets such as Europe, the US, and Japan. Currently, the company's global revenue accounts for over 60% of its total revenue.

Another leading company in the industry is Masan Group (stock code: MSN) - a company owned by billionaire Nguyen Dang Quang - which has expanded internationally through mining and materials technology. The acquisition of HC Starck's (Germany) tungsten business platform is known to have helped the group establish a presence in Europe, North America, China, and even invest in fast-charging battery technology in the UK.

Vinamilk (stock code: VNM) has acquired all shares of Driftwood Company (USA), opening the door to exporting finished dairy products. Driftwood, headquartered in California, USA, specializes in the production and distribution of dairy products, fruit juices, and snacks. It is understood that Vinamilk's products, through this subsidiary, can be distributed in the US and also exported.

Domestically, numerous reverse acquisition deals have also been taking place. For example, in 2019, Saigon Co.op reached an agreement to acquire the entire Auchan retail system in Vietnam, valued at approximately $150 million. Similarly, VinFast signed a strategic partnership with General Motors in 2018, acquiring the entire Chevrolet dealership network and GM factory in Hanoi.

In 2021, Bamboo Capital and BCG Financial acquired 80.64% of AAA Insurance Company's shares from IAG Group (Australia), valued at approximately US$36 million. In the same year, Thaco also officially acquired E-Mart Vietnam…

FPT, Masan, Vinamilk… proactively “hunt for opportunities,” paving the way for a reverse M&A wave in Vietnam (Photo: IT).

Paving the way for a reverse wave of M&A by Vietnamese businesses.

These deals not only demonstrate the financial strength and strategic vision of Vietnamese businesses, but also contribute to affirming Vietnam's position on the global M&A map.

According to experts, the acquisition of foreign brands by industry giants demonstrates the strengthening of Vietnamese businesses' financial capabilities.

Simultaneously, this move also demonstrates the aspiration to expand internationally, serving as an example for private enterprises to follow in the future. A prime example is Coteccons Construction (stock code: CTD), which recently acquired 100% of the capital contributions of two foreign-invested companies, creating a stepping stone to enter the international market.

From a business perspective, acquiring foreign companies helps Vietnamese businesses expand their scale, in the context of increasingly fierce competition from the domestic market.

Furthermore, domestic businesses can also learn a great deal from the management, operations, and technology experiences of their "targets." For example, with FPT, acquiring foreign companies has helped Vietnam "import" technology, high-quality human resources, and upgrade its R&D capabilities.

Overall, free trade agreements have been opening up a global playing field. Besides foreign players entering the Vietnamese market and acquiring domestic businesses, experts believe that reverse M&A trends are also becoming increasingly active as it is an inevitable business opportunity.

Source: https://dantri.com.vn/kinh-doanh/fpt-masan-vinamilk-san-moi-thau-tom-loat-cong-ty-ngoai-20251128083947619.htm