Khuon Kho Phap Ly Hoat Dong M_A Tai VN

8/3/2019 Khuon Kho Phap Ly Hoat Dong M_A Tai VN

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1

Mr.V B Ph

Ph CctrngCcQunlcnhtranh

KHUN KH PHP L CA

HOT NG M&A TI VIT NAM

Tp. H ChMinh, thng 5/2010


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2

Nidungchnh KhinimM&A

CcquynhphpllinquannhotngM&A

ThctrnghotngM&AtiVitNamtrongthigianqua

VaitrcacccquanqunlnhncivihotngM&A


3/18

3

KhinimM&AKhinimM&Acath gii:

- Merger(Spnhp):

Spnhpl vichaicngty,thng l c cngquym, thngnhts cngthamgiahpnhtvinhauv tr thnhmtdoanh

nghipmivitngimi(haicitnc s khngcntnti).C phiuc cahaicngtys khngcntntim cngtymirais phthnhc phiuthayth.

- Acquisition(Thutm,muali):

Mtcngtychimlnhhontonmtcngtykhcvngvaitrngich s humithc gi l mua li.Trngcphpl,cngtyb mualis ngnghotng,cngtytinhnhmuali nut trnhot ng kinh doanh ca cng ty kia, tuynhinc phiucacngtyimuali vncgiaodchbnhthng.


4/18

4

KhinimM&AtiVit Nam c quy nhtiLutCnhtranhvccLutc linquankhc nh sau:1.LutCnhtranh2004:M&Al mthnhthctptrungkinht

iu17:

- Sp nhp doanh nghip l vic mt hoc mt s doanh nghipchuyntonb tisn,quyn,nghav v lichhpphpcamnhsangmtdoanhnghipkhc,ngthichmdts tnticadoanhnghipbspnhp.

- Hpnhtdoanhnghipl vichaihocnhiudoanhnghipchuyn

tonb tisn,quyn,nghav v lichhpphpcamnh hnhthnhmtdoanhnghipmi,ngthichmdts tnticaccdoanhnghipb hpnht.

- Mualidoanhnghipl vicmtdoanhnghipmuatonb hocmtphntisncadoanhnghipkhc kimsot,chiphitonbhocmtngnhngh cadoanhnghipb muali.

KhinimM&A(tip)


5/18

5

KhinimM&A(tip)


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6

KhinimM&A(tip)2. Lut Doanh nghip 2005: M&A l mt hnh thc c cu li doanh

nghip

-iu152.Hpnhtdoanhnghip

Haihocmtscngtycngloi(sauygil cngtyb hpnht)c th hpnhtthnhmtcngtymi (sauygi l cng tyhpnht)bngcchchuyntonb tisn,quyn,nghav v lichhpphpsangcngtyhpnht,ngthichmdttnticacccngtyb hpnht

-iu153.Spnhpdoanhnghip

Mthoc mt s cng ty cng loi (sauy gi l cng ty b spnhp)c th spnhpvomtcngtykhc(sauygil cngtynhnspnhp)bngcchchuyntonb tisn,quyn,nghav vlichhpphpsangcngtynhnspnhp,ngthichmdtstnticacngtyb spnhp

3.Lutut2005:M&Al mthnhthcut

iu21. Cchnhthcuttrctip:

6.utthchinvicspnhpv mualidoanhnghip.


7/18


8/18

8

Thctrnghot ngM&AtiVitNam

Ngunthngtin:

- Cccquanqunlnhnc:CcQunlcnhtranh,Ccutncngoi,ybanChngkhon,S Khochutcctnh,thnhph.

- Cccngtytvn,vnphngluthotngtronglnhvcM&A

- Ccdoanhnghipthamgiatptrungkinht- Ccbnc linquankhc


9/18

9

Thctrnghot ngM&AtiVitNam(tip)

Tngquan:

Slng:tngnhanhquaccnm2006(38v),nm2008(146v),nm2009(295v)ccngb

Quymgiaodch:c s gimsttrongnm2008donhhngcacuckhnghongtichnhtoncunm2006(299triuUSD),nm2007(1,719tUSD),nm2008(1,117tUSD),nm2009(1,138t USD)

Cc lnh vc ch yu: ti chnh ngn hng, cngnghip,snxuthngtiudng.


10/18


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12


cimM&AtiVitNamthigianqua:

- C stngtrngmnhm tnm2006chonnay;

- Tptrungvokhitichnhv mtsngnhcngnghip;

- C s thamgiamnhm caccnhutncngoi;

- Ch yul ccgiaodchc quymvav nh;

- tctrnghpthutmkhngthnthinloibith cnhtranh.


13/18

13

Mts giaodchM&A inhnhXttheotiuch:

Quymgiaodchln;

Linquanncclnhvcquantrngcannkinht;

Ccbnthamgial ccdoanhnghiplntronglnhvchotng.

CcgiaodchdiykhngthucitngkimsotcaLutCnhtranhv c th phnkthpcaccbnnhhn30%.


14/18

14

Mts giaodchM&A inhnhSTT Thi

imBnmua Bnbn T l s hu/Gi

tr giaodch1 2006 Cngtylindoanhnh

mybiaVitNamBiaFosters 105triuUSD

2 2007 DaiichiMutualLife BoMinhCMG 100%

3 2007 Qantas PacificAirlines 30%(50triuUSD)

4 2007 HSBC Techcombank 15%(33,7triuUSD)

5 2008 Maybank ABbank 15%(94,7triuUSD

6 2008 PetroVietnam Ocenbank 20%(24triuUSD)

7 2009 Viettel Vinaconex 18,91%(700tng


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15

Vaitrca c quan qunlnh ncivihot ngM&A

1.CcQunlcnhtranh:

- Kimsotqu trnhtptrungkinhtnhmhnchvichnhthnhccdoanhnghipc v trcquyn,v tr thnglnhquathngbotptrungkinhtv thmnhhsmintr;

-itngthucdinb kimsot:ccgiaodchc th phnkt

hpcaccbntrnthtrnglinquantrn30%;- Ccdoanhnghipthuctrnghpnychctinhnhthtctptrungkinht ticccquanqunlnhncc thmquynkhicvnbn cho php tin hnh TTKT hoc hngmintr caCcQLCT;

2.BKHTv S Khochutcctnhthnhph:

- Thmnhv cpgiyphpchoccd nut;

-Thayigiyphpngkkinhdoanh;

- Khuyn khch u t trc tip nc ngoi thng qua ccchngtrnhxctinut, cithinmitrngutkinhdoanh


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16

Vaitrca c quan qunlnh ncivihot ngM&A

3.ybanChngkhonnhnc:

- Vicspnhp,hpnhtcccngtychngkhon,cngtyqunlqu phics chpthuncay

ban

4.Ngnhngnhnc:

- Vicspnhp,hpnhtcct chctndngphicNgnhngnhncchpthunbngvnbn.


17/18

17

KtlunCchqunlnhncivihotngM&A:

- KhuynkhchutncngoithngquahnhthcM&A;

- Kimsotthtrngnhmlnhmnhha,tngtnhminhbch,trnhlngonthtrng;

- Hon thin c ch chnh sch qun l hot ngM&A, cbit l kim sot cc v M&A thucdin

phithngbonhngkhngthngbohocb cmnhng vntin hnh. Toth tc thun li cho ccdoanhnghipthngbohocxinhngmintr.


18/18

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Khuon Kho Phap Ly Hoat Dong M_A Tai VN