VietNamNet Bridge - Power Buy – A company specializing in retail services for the Central Group of Thai billionaire Chirathivat has completed the acquisition of a 49% stake in NKT New Technology and Solution Investment and Development Corporation, the owner of Nguyen Kim Trading Company.

Speaking to the Vietnamese media, a representative of the Central Group said the purchase of Nguyen Kim’s shares would help the company expand its retail electrical system in Vietnam.

The General Director of the Central Group Vietnam, Philippe Broianigo, will be the General Director of Nguyen Kim, while Nguyen Van Kim will still hold the chairmanship of the Board of Directors.

The representative did not disclose the value of the deal, but according to Forbes Vietnam on January 1, Nguyen Kim was valued at $200 million in the deal.

The deal is part of Nguyen Kim’s plan to seek foreign partners in 2011-2015. Nguyen Kim, founded in 2001, has 21 electronics stores across the country and is the leading electronics retailer in Vietnam. In the fiscal year ending on March 31, 2014, the company had sales of more than VND8.4 trillion, and a net profit of VND352 billion.

Power Buy is rated as one of the top electronics retailers in Thailand, with more than 80 stores across the country. In Vietnam, the family of billionaire Chirathivat is opening a chain of Robins trade centers in Hanoi and HCM City.

Na Son