Tasco Set to Acquire Vietnam's Largest Car Distributor in Transport Industry Deal
Tasco, a transportation service provider, plans to acquire SVC Holdings, Vietnam’s largest car distributor, by issuing shares in exchange. This strategic move aligns with Tasco’s goal of becoming a comprehensive service provider for car owners, offering services such as loans, insurance, and maintenance. SVC currently holds an 11.2% market share in Vietnam’s car distribution industry, dealing with popular brands like Toyota, Ford, and Volvo.
With revenue reaching VND21.32 trillion ($882.72 million) last year, SVC achieved a new record in pre-tax profits since its establishment, amounting to VND692 billion. The company aims to sell 40,000 vehicles and generate VND35 trillion in revenue this year. Tasco itself owns Vietnam Electronic Toll Collection company and boasts nearly 3 million customers.