Vietnamese steelmaker Vietnam Steel Corporation (VNSteel) announced the completion of the sale of a 65 percent stake in its subsidiary Vicasa Steel (VCA) to a domestic investor, marking a significant step in its restructuring strategy.
Details transactions and strategic rationale
The transaction price was approximately VND 126.3 billion ($4.79 million). Following this transaction, VNSteel is no longer a shareholder and parent company of VCA. VNSteel's decision is consistent with broader corporate reform efforts aimed at refocusing the business and improving operational efficiency.
In addition, the Ho Chi Minh Stock Exchange has decided to place these VCA shares on a warning list effective October 23, 2025, as VCA's core manufacturing activities have been suspended for the past three months.
Implications for Vicasa Steel
Following the sale, Vicasa Steel is expected to undergo management changes, including restructuring of the board of directors and asset portfolio to reflect the new owner.
