DC Advisory advised Netco Post and its Vendors on the sale of a majority stake to GD Express Carrier Bhd and 3 Comma Capital

Background

• Netco is a leading provider of courier services in Vietnam, with operations covering all 63 provinces across the country and more than 4,000 customers including MNCs
• GD Express is the largest private last mile service provider in Malaysia with a growing regional presence. Its investors include Yamato Holdings (Japan) and Singapore Post (Singapore), amongst others
• 3 Comma Capital is a Vietnam-focused investment fund backed by local strategic players

Process

• Netco Post engaged Daiwa to act as exclusive financial advisor to provide advice across all aspects of its fund raising and for a partial sale of shares by its vendors
• Daiwa led a competitive auction process and successfully brought an international consortium of investors with strong last-mile logistics strategic value to Netco Post
• Daiwa assisted Netco Post with targeted investor search, due diligence, negotiation and closing to ensure a smooth cross-border transaction in a restricted sector, providing a partial exit for the vendors and capital raise for Netco Post

Outcome

• The transaction allowed Netco to establish a strategic partnership with a leading last-mile logistics player in Southeast Asia and a reputable financial investor with local access, and enabled the vendors to successfully exit partially from their initial investments
• The alliance also marks the entry of GD Express Carrier Bhd into Vietnam, as it paves the way for a broader expansion in the Southeast Asian region