Sau m\u1ed9t th\u1eddi gian d\u00e0i tr\u1ea7m l\u1eafng, ho\u1ea1t \u0111\u1ed9ng mua b\u00e1n, s\u00e1p nh\u1eadp doanh nghi\u1ec7p (M&A) b\u1ea5t \u0111\u1ed9ng s\u1ea3n \u0111\u00e3 s\u00f4i \u0111\u1ed9ng tr\u1edf l\u1ea1i k\u1ec3 t\u1eeb n\u0103m 2014 v\u1edbi h\u00e0ng lo\u1ea1t th\u01b0\u01a1ng v\u1ee5 \u0111\u00ecnh \u0111\u00e1m. B\u00ean c\u1ea1nh s\u1ef1 t\u00edch c\u1ef1c c\u1ee7a c\u00e1c \u0111\u1ea1i gia n\u1ed9i l\u00e0 s\u1ef1 xu\u1ea5t hi\u1ec7n c\u1ee7a nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i v\u1edbi nh\u1eefng b\u01b0\u1edbc \u0111i \u0111\u1ea7y toan t\u00ednh.<\/p>\n
Nh\u1eefng c\u00e1i b\u1eaft tay gi\u1eefa nh\u00e0 \u0111\u1ea7u t\u01b0 ngo\u1ea1i v\u00e0 doanh nghi\u1ec7p n\u1ed9i \u0111\u00e3 g\u00f3p ph\u1ea7n t\u1ea1o n\u00ean s\u1ef1 s\u00f4i \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n n\u0103m qua.
\nS\u00f3ng ng\u1ea7m \u0111ang n\u1ed5i
\nS\u1ed1 li\u1ec7u c\u1ee7a C\u1ee5c \u0110\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i, B\u1ed9 k\u1ebf ho\u1ea1ch v\u00e0 \u0110\u1ea7u t\u01b0 cho th\u1ea5y, n\u0103m 2015, l\u0129nh v\u1ef1c b\u1ea5t \u0111\u1ed9ng s\u1ea3n thu h\u00fat \u0111\u01b0\u1ee3c 2,39 t\u1ef7 USD v\u1ed1n \u0111\u1ea7u t\u01b0 tr\u1ef1c ti\u1ebfp n\u01b0\u1edbc ngo\u00e0i (FDI), \u0111\u1ee9ng th\u1ee9 3 trong t\u1ed5ng s\u1ed1 l\u0129nh v\u1ef1c h\u00fat v\u1ed1n ngo\u1ea1i.<\/p>\n
Trong n\u0103m 2015, th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng ki\u1ebfn nhi\u1ec1u th\u01b0\u01a1ng v\u1ee5 M&A b\u1ea5t \u0111\u1ed9ng s\u1ea3n l\u1edbn c\u00f3 s\u1ef1 tham gia c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i.
\nC\u00f3 th\u1ec3 k\u1ec3 \u0111\u1ebfn th\u01b0\u01a1ng v\u1ee5 \u0111\u00ecnh \u0111\u00e1m nh\u01b0 Lotte c\u1ee7a H\u00e0n Qu\u1ed1c th\u00e2u t\u00f3m Diamond Plaza t\u1eeb doanh nghi\u1ec7p \u0111\u1ed3ng h\u01b0\u01a1ng Posco; Qu\u1ef9 \u0111\u1ea7u t\u01b0 Creed Group c\u1ee7a Nh\u1eadt B\u1ea3n cam k\u1ebft r\u00f3t 200 tri\u1ec7u USD v\u00e0o CTCP \u0110\u1ea7u t\u01b0 v\u00e0 ph\u00e1t tri\u1ec3n b\u1ea5t \u0111\u1ed9ng s\u1ea3n An Gia (An Gia Investment) \u0111\u1ec3 mua l\u1ea1i 20% c\u1ed5 ph\u1ea7n c\u1ee7a c\u00f4ng ty n\u00e0y v\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c d\u1ef1 \u00e1n tri\u1ec3n khai trong th\u1eddi gian t\u1edbi theo t\u1ef7 l\u1ec7 50\/50, \u0111\u1ed3ng th\u1eddi cung c\u1ea5p c\u00e1c kho\u1ea3n vay v\u1edbi l\u00e3i su\u1ea5t \u01b0u \u0111\u00e3i cho An Gia Investment.<\/p>\n
\u0110\u1ea7u th\u00e1ng 9\/2015, CTCP N\u0103m B\u1ea3y B\u1ea3y (NBB) \u0111\u00e3 th\u1ef1c hi\u1ec7n ph\u00e1t h\u00e0nh th\u00e0nh c\u00f4ng 210 t\u1ef7 \u0111\u1ed3ng tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i. Trong 4 nh\u00e0 \u0111\u1ea7u t\u01b0 mua l\u01b0\u1ee3ng tr\u00e1i phi\u1ebfu n\u00e0y, c\u00f3 3 qu\u1ef9 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i g\u1ed3m Beira Limited c\u1ee7a Duxton Asset Management, Amersham Industries Limited v\u00e0 Vietnam Debt Fund c\u1ee7a Dragon Capital, mua t\u1ed5ng c\u1ed9ng 75% kh\u1ed1i l\u01b0\u1ee3ng tr\u00e1i phi\u1ebfu, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 157,5 t\u1ef7 \u0111\u1ed3ng.<\/p>\n
T\u1ea1i ph\u00eda B\u1eafc, Gaw Capital Partners \u2013 m\u1ed9t \u0111\u01a1n v\u1ecb qu\u1ea3n l\u00fd qu\u1ef9 c\u00f3 tr\u1ee5 s\u1edf t\u1ea1i H\u1ed3ng K\u00f4ng c\u0169ng mua l\u1ea1i 4 d\u1ef1 \u00e1n l\u1edbn c\u1ee7a Indochina Land; hay Keppel Land mua l\u1ea1i th\u00e0nh c\u00f4ng D\u1ef1 \u00e1n H\u00e0 N\u1ed9i Westgate\u2026 C\u00f2n theo \u00f4ng Neil MacGregor, T\u1ed5ng gi\u00e1m \u0111\u1ed1c Savills Vi\u1ec7t Nam, th\u1eddi \u0111i\u1ec3m n\u00e0y, c\u00e1c ch\u1ee7 \u0111\u1ea7u t\u01b0 v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i \u0111ang c\u00f3 nhi\u1ec1u quan t\u00e2m \u0111\u1ed1i v\u1edbi th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n Vi\u1ec7t Nam v\u00e0 xu h\u01b0\u1edbng n\u00e0y s\u1ebd ti\u1ebfp di\u1ec5n. Kinh t\u1ebf \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n, c\u00f9ng v\u1edbi s\u1ef1 t\u0103ng tr\u01b0\u1edfng c\u1ee7a t\u1ed1c \u0111\u1ed9 \u0111\u00f4 th\u1ecb h\u00f3a, du l\u1ecbch v\u00e0 b\u00e1n l\u1ebb \u0111\u00e3 gi\u00fap th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n ph\u00e1t tri\u1ec3n m\u1ea1nh.<\/p>\n Nh\u1eadp cu\u1ed9c th\u1eadn tr\u1ecdng \u00d4ng Ph\u1ea1m S\u1ef9 Li\u00eam, nguy\u00ean Th\u1ee9 tr\u01b0\u1edfng B\u1ed9 X\u00e2y d\u1ef1ng cho bi\u1ebft, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i r\u00f3t v\u1ed1n v\u00e0o th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n Vi\u1ec7t Nam th\u1eddi gian qua kh\u00f4ng ph\u1ea3i l\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi, m\u00e0 mua l\u1ea1i c\u00e1c d\u1ef1 \u00e1n \u0111ang x\u00e2y d\u1ef1ng d\u1edf, ho\u1eb7c b\u1eaft tay v\u1edbi doanh nghi\u1ec7p b\u1ea5t \u0111\u1ed9ng s\u1ea3n n\u1ed9i \u0111\u1ec3 ph\u00e1t tri\u1ec3n d\u1ef1 \u00e1n. L\u00fd do l\u00e0 \u0111\u1ec3 gi\u1ea3m b\u1edbt r\u1ee7i ro, nh\u1ea5t l\u00e0 kh\u00e2u th\u1ee7 t\u1ee5c c\u1ea5p ph\u00e9p \u0111\u1ea7u t\u01b0, x\u00e2y d\u1ef1ng v\u00e0 t\u1eadn d\u1ee5ng s\u1ef1 hi\u1ec3u bi\u1ebft th\u1ecb tr\u01b0\u1eddng c\u1ee7a doanh nghi\u1ec7p n\u1ed9i\u2026<\/p>\n Lu\u1eadt s\u01b0 Nguy\u1ec5n Thanh H\u00e0, Ch\u1ee7 t\u1ecbch C\u00f4ng ty Lu\u1eadt SBLaw<\/strong><\/a> cho r\u1eb1ng, v\u1edbi vi\u1ec7c nhi\u1ec1u d\u1ef1 \u00e1n c\u00f3 v\u1ecb tr\u00ed \u0111\u1eafc \u0111\u1ecba \u0111\u01b0\u1ee3c tri\u1ec3n khai trong giai \u0111o\u1ea1n tr\u01b0\u1edbc nh\u01b0ng do kh\u00f3 kh\u0103n c\u1ee7a ch\u1ee7 \u0111\u1ea7u t\u01b0 ph\u1ea3i t\u1ea1m d\u1eebng l\u00e0 c\u01a1 h\u1ed9i cho nh\u00e0 \u0111\u1ea7u t\u01b0 ngo\u1ea1i. Vi\u1ec7c M&A c\u00e1c d\u1ef1 \u00e1n n\u00e0y s\u1ebd c\u00f3 l\u1ee3i cho c\u1ea3 ch\u1ee7 \u0111\u1ea7u t\u01b0 v\u00e0 c\u1ea3 nh\u00e0 \u0111\u1ea7u t\u01b0. B\u00e1o c\u00e1o c\u1ee7a Nh\u00f3m C\u00f4ng t\u00e1c \u0111\u1ea5t \u0111ai, thu\u1ed9c Di\u1ec5n \u0111\u00e0n doanh nghi\u1ec7p Vi\u1ec7t Nam 2015 \u0111\u00e3 ph\u1ea3n \u00e1nh s\u1ef1 b\u1ea5t b\u00ecnh \u0111\u1eb3ng gi\u1eefa nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 n\u1ed9i tr\u00ean th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n Vi\u1ec7t Nam. S\u1ef1 b\u1ea5t b\u00ecnh \u0111\u1eb3ng n\u00e0y ch\u1ee7 y\u1ebfu xoay quanh 6 v\u1ea5n \u0111\u1ec1 ch\u00ednh, nh\u01b0 c\u00e1c h\u1ea1n ch\u1ebf v\u1ec1 ti\u1ebfp c\u1eadn ngu\u1ed3n v\u1ed1n, ch\u00ednh s\u00e1ch, c\u00f4ng ch\u1ee9ng h\u1ee3p \u0111\u1ed3ng mua b\u00e1n nh\u00e0 \u1edf, kinh ph\u00ed b\u1ea3o tr\u00ec, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i mua b\u1ea5t \u0111\u1ed9ng s\u1ea3n \u1edf Vi\u1ec7t Nam, th\u1eddi h\u1ea1n g\u00f3p v\u1ed1n\u2026 Do \u0111\u00f3, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ngo\u1ea1i t\u1ecf ra th\u1eadn tr\u1ecdng trong vi\u1ec7c ra c\u00e1c quy\u1ebft \u0111\u1ecbnh c\u1ee7a m\u00ecnh trong giai \u0111o\u1ea1n n\u00e0y c\u0169ng l\u00e0 \u0111i\u1ec1u d\u1ec5 hi\u1ec3u.<\/p>\n theo Tin nhanh ch\u1ee9ng kho\u00e1n<\/em><\/p>\n \u00bb\u00a0T\u01b0 v\u1ea5n mua b\u00e1n, s\u00e1p nh\u1eadp doanh nghi\u1ec7p<\/a><\/p>\n
\n\u00d4ng Stephen Wyatt, T\u1ed5ng gi\u00e1m \u0111\u1ed1c C\u00f4ng ty T\u01b0 v\u1ea5n b\u1ea5t \u0111\u1ed9ng s\u1ea3n<\/a> Jones Lang Lasalle cho bi\u1ebft, s\u1ef1 nh\u1eadp cu\u1ed9c \u1ed3 \u1ea1t c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i trong th\u1eddi gian v\u1eeba qua kh\u00f4ng c\u00f3 g\u00ec qu\u00e1 kh\u00f3 hi\u1ec3u khi nhi\u1ec1u n\u00fat th\u1eaft \u0111\u01b0\u1ee3c th\u00e1o g\u1ee1, \u0111\u1eb7c bi\u1ec7t l\u00e0 Lu\u1eadt Kinh doanh b\u1ea5t \u0111\u1ed9ng s\u1ea3n, Lu\u1eadt Nh\u00e0 \u1edf 2014 v\u00e0 m\u1ed9t lo\u1ea1t c\u00e1c v\u0103n b\u1ea3n h\u01b0\u1edbng d\u1eabn v\u1edbi nhi\u1ec1u \u0111i\u1ec3m c\u1edfi m\u1edf h\u01a1n c\u00f3 hi\u1ec7u l\u1ef1c.<\/p>\n
\nD\u00f9 \u0111\u00e3 c\u00f3 nhi\u1ec1u th\u01b0\u01a1ng v\u1ee5 \u0111\u00ecnh \u0111\u00e1m trong 2 n\u0103m qua v\u00e0 \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o s\u1ebd ti\u1ebfp t\u1ee5c ti\u1ebfp di\u1ec5n trong th\u1eddi gian t\u1edbi, nh\u01b0ng c\u00e1c chuy\u00ean gia cho r\u1eb1ng, xu h\u01b0\u1edbng nh\u1eadp cu\u1ed9c th\u1eadn tr\u1ecdng, d\u00f2m ng\u00f3 th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i v\u1eabn l\u00e0 xu h\u01b0\u1edbng ch\u1ee7 \u0111\u1ea1o.<\/p>\n
\nB\u1ed5 sung th\u00eam quan \u0111i\u1ec3m c\u1ee7a \u00f4ng H\u00e0, \u00f4ng Stephen cho bi\u1ebft, \u0111\u1ea7u t\u01b0 b\u1ea5t \u0111\u1ed9ng s\u1ea3n t\u1ea1i c\u00e1c th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i c\u00f3 c\u01a1 h\u1ed9i khi s\u1ebd c\u00f3 m\u1ee9c t\u0103ng tr\u01b0\u1edfng theo c\u1ea5p s\u1ed1 nh\u00e2n khi kinh t\u1ebf c\u00e1c n\u01b0\u1edbc n\u00e0y ph\u00e1t tri\u1ec3n, nh\u01b0ng c\u0169ng lu\u00f4n \u0111\u01b0\u1ee3c coi l\u00e0 n\u01a1i \u0111\u1ea7u t\u01b0 c\u00f3 r\u1ee7i ro cao. Do \u0111\u00f3, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i s\u1ebd k\u1ebft h\u1ee3p v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 trong n\u01b0\u1edbc c\u00f3 nhu c\u1ea7u h\u1ed7 tr\u1ee3 v\u1ed1n, nh\u1eb1m c\u00f3 m\u1ed9t ch\u1ed7 \u0111\u1ee9ng tr\u01b0\u1edbc t\u1ea1i th\u1ecb tr\u01b0\u1eddng n\u00e0y.
\nH\u01a1n n\u1eefa, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i c\u0169ng e ng\u1ea1i v\u1ec1 c\u00e1c th\u1ee7 t\u1ee5c ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn c\u1ea5p ph\u00e9p \u0111\u1ea7u t\u01b0, x\u00e2y d\u1ef1ng, gi\u1ea3i ph\u00f3ng m\u1eb7t b\u1eb1ng\u2026 Ngay c\u1ea3 v\u1edbi vi\u1ec7c \u0111\u1ea7u t\u01b0 qua h\u1ee3p t\u00e1c v\u1edbi doanh nghi\u1ec7p n\u1ed9i v\u00e0 M&A c\u0169ng c\u00f3 nhi\u1ec1u v\u1ea5n \u0111\u1ec1 ch\u01b0a th\u1ec3 gi\u1ea3i quy\u1ebft.<\/p>\n