Large education groups taking shape in Vietnam
VietNamNet Bridge - Some education groups own two universities and four to five schools in total. Other groups are seeking to buy more schools.
Nguyen Hoang Group has confirmed it has taken over Hoa Sen University.
A representative of Nguyen Hoang Group said some shareholders of the school expressed their willingness to transfer shares to Nguyen Hoang. To date, Nguyen Hoang has obtained more than 51 percent of Hoa Sen shares and has the right to manage Hoa Sen.
Hutech Education Development Investment JSC now owns two large universities – the HCMC University of Technology (Hutech) and the HCMC University of Economics & Finance (UEF) which have tens of thousand of students. Sources said that Hung and other Hutech’s shareholders had to pay over VND100 billion to take over UEF.
Before obtaining Hoa Sen University, Nguyen Hoang Group successfully took over Gia Dinh University at VND100 billion. It also owns Hong Bang International University, valued at VND500 billion and Ba Ria-Vung Tau University.
Some education groups own two universities and four to five schools in total. Other groups are seeking to buy more schools.
Meanwhile, Thanh Thanh Cong Group has one university – Yersin in Da Lat City, one junior college – Sonadezi in Dong Nai province, and a system of general schools from preschool to high school.
Six years ago, Hung Hau Development signed an agreement on making investment in Van Hien University. In fact, it took over the university at VND75 billion.
Hung Hau is now also known as an influence in the education sector as it owns a series of schools, namely Van Xuan Junior College, Van Tuong and Van Hanh Intermediate Schools.
Not only large economic groups, individuals can also be the owners of schools. Le Lam, rector of the Dai Viet Sai Gon Junior College, owns three other schools at the same time, namely Dai Viet Intermediate School in HCMC, Viet Tien Technology & Business Junior College in Da Nang and Dai Viet Intermediate School in Can Tho.
Dang Hoang Yen, president of Tan Tao Group and her younger brother Dang Thanh Tam, president of Kinh Bac Urban Development, own two universities: Tam has Hung Vuong University while Yen has Tan Tao.
Tran Hong Quan, former Minister of Education & Training, noted that the school M&A market has become bustling recently, which shows that investors have a high interest in the education sector. Meanwhile, many private universities are facing difficulties and are seeking new investors.
A PhD with experience in non-state education said it is no surprise that so many M&As in the education sector have occurred.
“After the death of the Phan Chau Trinh and Hoa Sen universities, the concept ‘not-for-profit private school’ no longer exists,” she commented.
“In the future, non-state education will be the playing field of large corporations,” she said.