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MWG officially acquires Phuc An Khang Pharmacy

Dec 20th at 07:57
20-12-2017 07:57:54+07:00

MWG officially acquires Phuc An Khang Pharmacy

Tran Kinh Doanh, a member of the Mobile World Group (MWG) Board of Directors, confirmed that the company has acquired Phuc An Khang Pharmacy to officially set foot in the pharmaceutical sector.

 

This is the first time a representative of MWG confirmed the acquisition of the Phuc An Khang pharmacy chain. Earlier, there were wide-scale speculations and some stock companies have produced analysis of this possibility.

Phuc An Khang was established in May 2006 with a total of 14 stores in Ho Chi Minh City. Meanwhile MWG planned to jump into pharmaceutical retail at the beginning of this year and expected to expand to 50 or 60 stores next year.

Also, at this moment, MWG has been acquiring shares of Tran Anh Group (TAG). Doanh said that MWG has started to take over the business, IT system, and accounting departments, and sent key personage to manage TAG. The total M&A funds of MWG reached VND2,500 billion ($110 million).

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