At the end of 2020, IDVN Lawyers received merger filing requests by several enterprises including Samsung C&T Corporation and SMC Investment and Trading Joint Stock Company; TLC Holdings II Pte. Ltd and Hetat Holdings Pte. Ltd.
In less than 2 months, IDVN Lawyers were able to complete case analysis and application dossier preparation for submission to the Vietnam Competition and Consumer Authority in late December 2020. On 8 January 2021, merger clearance was granted by the Ministry of Industry and Trade, noting that the economic concentration transaction between Samsung C&T Corporation and SMC Investment and Trading Joint Stock Company did not fall under the cases prohibited by the Law on Competition and Decree 35.
On the other hand, IDVN Lawyers as well as TLC Holdings II Pte. Ltd and Hetat Holdings Pte. Ltd. were delighted by the good news coming on 11 January 2021 as the Ministry of Industry and Tradegranted the said enterprises approval for implementation of their economic concentration transactions as they did not fall under the prohibited cases.
Announcements by Vietnam Competition and Consumer Authority:
http://vcca.gov.vn/default.aspx?page=news&do=detail&category_id=e0904ba0-4694-4595-9f66-dc2df621842a&id=41bf225c-4364-4116-818d-ce4a4fa91832
