CapitaLand completed its acquisition of Ascendas and Singbridge Pte. Ltd.
In early July, CapitalLand announced that it had completed negotiations with Temasek and acquired all the current shares of Ascendas and Singbridge Pte. Ltd. The deal helps Capitaland become one of Asia's largest multidisciplinary real estate corporations with more than S$ 123 billion worth of assets under its management. After acquiring Ascendas-Singbridge, CapitaLand added OneHub Saigon project to its portfolio in Vietnam. This is a 12-hectare commercial, industrial and transport office complex located at the entrance to Saigon Hi-tech Park, adjacent to Hanoi Highway.
Many notable real estate mergers and acquisitions were completed in the first half of 2019. (Photo: Reatimes)
Hoa Binh sells shares to Hyundai Elevator
Construction corporation Hoa Binh asked for private issuance of 25 million shares for Hyundai Elevator Co., Ltd at the price of VND23,000 per share. Expected issuance time is in quarter 2-2019. Under the cooperation agreement, Hoa Binh will give the maximum support to Hyundai Elevator to provide elevators and escalators in projects developed by Hoa Binh. In return, Hyundai Elevator will introduce Hoa Binh as a contractor for its customers in Vietnam and abroad; send experts to support Hoa Binh in quality control and construction management of the elevator system as the general contractor. In addition, Hyundai Elevator will provide products with competitive prices and the most favorable conditions to Hoa Binh. On the basis of issuing private shares to strategic investors, Hoa Binh will limit foreign ownership ratio at 37.5% of charter capital.
Phat Dat cooperates with Samty Asia Investment
Phat Dat Real Estate Development JSC signed an investment cooperation agreement with Samty Asia Investments Pte. Ltd, which is a subsidiary of Samty Corporation and a Japanese real estate development company through Vietnam New Urban Center LP Fund. Through this cooperation, an investment of US$ 22.5 million will partly support Phat Dat's investment capital plan to develop some projects, especially ones in Ho Chi Minh City. In recent times, the company has stepped up its strategy of investment and development in coastal provinces with high potentials for tourism development such as Binh Dinh and Quang Ngai.
SK Group bought Vingroup shares
Earlier this year, Vingroup and SK Group (South Korea) officially signed a strategic cooperation agreement. Accordingly, SK Group will invest about US$ 1 billion to buy shares of Vingroup and will become the Vietnamese conglomerate’s strategic partner. The Korean group registered to buy 154.3 million shares issued under a private offering from Vingroup and acquired 51.4 million secondary shares from VinCommerce, which is Vingroup’s retail arm, with an average price of VND113,000 per share. The total trading value is about VND23.3 trillion, equivalent to US$ 1 billion. After completing the share offering, Vingroup's chartered capital will increase to nearly VND34.299 trillion, and SK Group will be Vingroup’s largest foreign shareholder holding 6% of its charter capital.
VinaCapital invested $4 million into real estate brokerage technology company
VinaCapital Ventures, a member of VinaCapital fund management company, announced a $4 million investment in real estate brokerage company Rever. This is VinaCapital Ventures' fifth investment since its establishment in 2018, after FastGo, Logivan, Urbox, and Wee Digital.
