Under the pact, SAM will acquire a 15 percent stake of My Chau. The investment will contribute to expanding the scale of My Chau drug stores and improving management and transparency.
The new deal is part of SAM’s long-term business strategy that focuses on forming cooperation with prestigious brands in the Vietnamese retail market, stated SAM Chairman and CEO Louis Nguyen.
|Representatives of SAM and My Chau Investment Corporation shake hands after signing their deal. (Photo: bizlive.vn)
Founded in 2007, SAM is a fund management/private equity firm based in Ho Chi Minh City and Los Angeles (the US). It has been managing two Vietnam-focused investment funds, namely Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH). VEH and VPH have thus far invested over US$250 million in over 45 companies and projects in Vietnam.
My Chau has taken the lead in opening online pharmacies with home delivery service. It aims to establish 80 physical stores across the country within the next three years.