A toll booth operated by Tasco in northern Thai Binh province. Photo courtesy of Tasco
Transport service provider Tasco will issue shares to exchange them with those of Vietnam’s largest automobile distributor, SVC Holdings, in order to buy the latter.
The transaction is part of Tasco’s strategy to become the service provider for all needs of a car owner, including obtaining loans, purchasing insurance and servicing.
SVC represents 11.2% of the automobile distribution market in Vietnam. It sells vehicles from Toyota, Ford and Volvo.
Last year, its revenue was VND21.32 billion ($882.72 million) and its pre-tax profit was VND692 billion, a new record since its establishment.
The company aims to sell 40,000 vehicles this year and generate a turnover of 35 trillion VND.
Tasco owns the Vietnam Electronic Toll Collection company and has nearly 3 million customers.