Thien Long Group acquisition approved with conditions

The National Competition Commission of Vietnam has approved the conditional economic concentration regarding the acquisition of shares in Thien Long Group (HOSE: TLG). The transaction involves Synergy Investing Asia Pte. Ltd., Thien Long An Thinh Investment JSC, Thien Long Group, and five individuals.

Under Decision 294/QD-CT, the involved parties must adhere to several mandatory conditions. These include providing reports on pen market share, average purchase/sale prices, and commercial discount policies upon request. The group is also required to establish internal rules for competition law compliance and conduct annual training.

Additionally, the group must submit annual reports by December 31 detailing plans to enhance the positive impacts of the merger. These reports must cover scientific advancements, such as the use of recycled or green materials, and a commitment to increase R&D investment by 3 billion VND annually for five consecutive years. The commission emphasized that the business group is responsible for the accuracy of all submitted information.