[ Vietnam ] Vietnam’s Ministry of Transport (MoT) has said that it would seek the government’s permission to continue selling the stakes of state-owned Airports Corporation of Vietnam (ACV) to “strategic investors”.
04 August 2017
This is one of the MoT’s key tasks set for H2 2017, according to a report released at a recent meeting to review the first half-year performance of the ministry. The ministry will also seek the prime minister’s permission to reduce the state’s stake in ACV. In 2016, when Aéroports de Paris (ADP) and ACV began negotiations on a stake sale, the deal was considered as the hottest news in the aviation industry. The parties have reached agreement for ADP to become a strategic stakeholder of ACV. ADP wants to buy a 20% stake in ACV. According to the annual general shareholders’ meeting held in late June 2017, ACV - which is now the operator of 22 airports – has targeted a 25% year-on-year increase in revenue which would deliver up to USD 583.6 million in FY 2017. The company has also targeted pre-tax profits of USD 161 million, an increase of 7% over FY 2016.
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