The transaction marks the largest Polish direct investment in Vietnam to date
Baker McKenzie has advised Dat Vi Phu Pharmaceutical JSC ("Davi pharm"), a rapidly growing pharmaceutical company in Vietnam, in its sale of 70% stake to the Adamed Group, the second largest pharmaceutical company in Poland. The USD 50 million transaction marks the largest Polish direct investment in Vietnam to date.
Davi pharm was established in 2004. It manufactures a wide range of medicinal products in Vietnam and exports its products to the Philippines, Cambodia and Myanmar. The investment by the Adamed Group will enable Davi pharm to reinforce its position in the local market and expand in the Asia Pacific region.
The transaction is integral to the internationalization of the Adamed Group. In 2016, the company recorded a 15% increase in export revenues. The Adamed Group aims to constantly increase its foreign sales.
Lead partner on the transaction, Lan Phuong Nguyen, M&A practice partner at Baker McKenzie in Vietnam stated: “It was our honor and pleasure to work with Davi pharm on this matter. The deal is not only of strategic significance to the expansion plan of our client, Davi pharm, and the Adamed Group, but also symbolizes the strengthening economic relations between Poland and Vietnam.”
The deal closing was witnessed by Polish President Andrzej Duda and Vietnam’s President Tran Dai Quang on the 28th of November in Hanoi.
Phuong was assisted by Baker McKenzie associate, Nguyen Vu Quynh Trang.