The Vietnam Shipbuilding Industry Group (Vinashin) has offered up their entire stake in 13 subsidiaries at a recent M&A forum.
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Vinashin will also sell 318,000 square metres of land for aquaculture in Quang Binh and Thua Thien-Hue provinces, as well as land for urban area construction in Da Nang and Quang Nam provinces.
The group plans to sell stake in 32 companies in which the firm holds 51-80%. Among these, the shipbuilder will sell 10% of stake in Vietnam Investment Fund worth VND144 billion (USD6.85 million), 51% at Cuu Long Trading Investment JS company worth VND734 billion (USD34.9 million) and 20% at Shell Gas Haiphong.
Vinashin has more than 200 subsidiaries. Under the Government’s restructuring plan, the group will retain only 15 subsidiaries, two joint ventures, one associated company and two non-business units.
