Group 6 Vietnam Case Study Masan VCF

MASAN GROUP & VINACAFE
GROUP 6:
Guider: Pro. Meinhard Friedl
1. Dinh Manh Hung
2. Dang Thi Thanh Nhan
3. Le Mai Son
4. Dang Lam Tung

GROUP MEMBER

1.
1. Mr.
Mr. Hung
Hung
------

Age:
Age: 36
36
Married
Married
SM
SM
Air
Air Con
Con
Hanoi,
Hanoi, city city 2.
2. Mr.
Mr. Son
Son

3.
3. Mr.
Mr. Lam
Lam

Age:
Age: 30
30
Married
Married
DM
DM
Telecom
Telecom
Service
Service
-- Hanoi,
Hanoi, city city ------

-----

Age:
Age: 24
24
Single
Single
Teacher
Teacher
Chess
Chess
Hanoi,
Hanoi, city city 4.
4. Ms.
Ms. Nhan
Nhan
------

Age:
Age: 34
34
Married
Married
Scientific
Scientific Dep.
Dep.
L’oreal
L’oreal
Hanoi,
Hanoi, city city AGENDA
1.
2.
3.
4.
5.
6.
7.
8.

Case Introduction (MSN & VCF)
Masan Group (Acquirer)
Vinacafe (Acquiree)
Reason for M&A
Process of the M&A
Added Value & Further Development
Post merge process
Conclusion

1. CASE INTRODUCTION
•

Ho Chi Minh City, 13 October 2011 – Masan Group (HOSE:
MSN, “Masan”, “The Group”),subsidiary Masan Consumer announced that it has successfully completed the tender for
Vinacafe Bien Hoa Joint Stock Company (HOSE: VCF,
“Vinacafe”) at VND 80,000 per share.

•

The offer expired Tuesday, October 11 and 50.11% of the shares outstanding had been tendered (a total cash consideration of approximately US$51 million)- equal 13.32 M of VCF Shares

2. MASAN GROUP- ACQUIRER

MASAN CONSUMER’S PRODUCT
Soya
sauce

70%

Chili sauce 37%

Fish sauce Instant noodle 65%

12%

MASAN CONSUMER’S FIGURE
•

With robust bottom line growth, combined with increasingly efficient working capital management

 Masan can attain high levels of cash conversion
& generate strong cash flow.

3. VINACAFE- ACQUIREE

The Coronel Coffee Plant was established in
1969 by French engineer Marcel Coronel
When Coronel left Vietnam in 1975, the
Viet Cong took over management of the plant
The Vinacafé brand was established in 1983
& logo
Vinacafé's successful "3-in-1“ " line of instant coffee, a registered brand in 60 countries
Build up the second &