Farm deal signals co-operation among VN firms
Thursday, August 16,2018AsemconnectVietnam - The latest co-operative agreement between farming and agricultural firm Hoang Anh Gia Lai (HAGL) and Truong Hai Auto Corporation (Thaco) has suggested that Vietnamese firms are willing to work together to improve their competitiveness as pressure from foreign businesses mounts.
The deal, signed on August 8, allows Thaco to buy convertible bonds worth VND3.8 trillion (US$163.1 million) issued by HAGL’s sub-unit HAGL Agrico, purchase VND4 trillion worth of 51 per cent ownership of HAGL Myanmar Co Ltd, and help HAGL restructure its VND14 trillion worth of debts.
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