Regulations on pure state-own enterprise acquisition

Under government Decree on acquisition of pure state-own enterprises, if the acquisition affairs involves two and more buyers, the process shall be in two forms of auction as follows:

Auction to acquire all the remaining working staff, applicable in the event that some working staffs have been laid off in reorganization of at state-own one-member limited liability company by laws.

Auction without acquiring all the working staffs, applicable in the event of laying off all the employed or approved laying-off scheme in reorganization of at state-own one-member limited liability company by laws.

In the event of only one acquisition application is duly approved, the competent authority shall decide on selling off the enterprise through direct agreements.

The mentioned Decree is effective from and on March 1, 2015.

Reported by H.A – Translated by Vi Bao