Month sees rise in mergers, acquisitions

Watson Wyatt Worldwide, a global consulting firm, announced on Monday its acquisition of the private SMART Human Resource Vietnam Company with operations to start early next year.

SMART HR, established in 2001 with offices in HCM City and Ha Noi, offers training and development consulting, talent management, compensation management and salary surveys.

Andrew Heard, Watson Wyatt’s ASEAN managing director, refused to disclose the price, saying it "greatly strengthens our company’s presence in the ASEAN market and the Asia Pacific region".

"By establishing operations in Viet Nam, we can provide our global and regional clients with world-class consultancy in one of Asia’s most dynamic emerging markets."

Watson Wyatt Vietnam will have personnel in place to meet clients’ demands for international standard services to cement the position established by SMART HR, he said.

Globally, Watson Wyatt offers consultancy in human capital, retirement and benefits, insurance and financial services and investment.

Last week the US-based TBWA\Group announced it had purchased stake in the marketing, advertising, and communications firm Biz Solutions.

Though the percentage of stake and value of the deal are not known, Biz Solution’s name has been changed to Biz TEQUILA. TEQUILA is a brand owned by TBWA.

lan Thubron, a vice president of TBWA\Asia Pacific, expected this integration to help create a leading communication company in Viet Nam, a country that is rapidly becoming a key market for the group.

Phan Bich Ha, one of the founders of Biz Solutions and now managing director of Biz TEQUILA, said with support from TBWA the new company would have more foreign clients and a broader range of services.

TBWA has a global clientele that includes Apple, McDonald’s, Michelin, Nissan, Singapore Airlines and Standard Chartered Bank.

In another acquisition, Elf Gas Saigon, a joint venture between Saigon Construction Corp and French firm Total, has bought the Saigon Gas Holding Corp at an undisclosed price.

This enables Total to add another 20 distributors to its network.

"The acquisition will secure Total’s position as one of the leading LPG suppliers in Viet Nam, with an increase in the gas market share to 15 per cent," Thierry Pflimlin, senior vice-president of Total Oil Asia-Pacific, said.

"Viet Nam is one of our key markets for development and this opportunity for growth fits well with our strategy in the region," he said.