Merrill Lynch leads a field of four foreign companies vying to provide equitisation consulting services to the Bank for Investment and Development of Viet Nam (BIDV).
Senior BIDV officials were not ready to comment in detail about the results or individual bids, though they did indicate a winner has not yet selected.
”We cannot predict right now whom the winner will be as it depends on other criteria, other than just the scores,” said BIDV General Director Tran Bac Ha. “However, we will carry out every step in the process transparently.”
In making a final selection, BIDV will base 70 percent of the decision on the technical scores and 30 percent on the financial scores, said Ha. The company with the highest score will have an opportunity to negotiate directly with BIDV for the contract.
The State-owned bank has yet to revise and publish the financial scores, which are partially based on the consulting fees.
”We expects to select a consultant by Friday this week, and receive Government approval by June 21. A contract should be reached by the end of the month,” said Ha.
Goldman Sachs withdrew from the bidding process on May 14. They instead offered to become a BIDV strategic partner on the same day.
BIDV policy does not allow consultants to also be a strategic investors.
Source: VNA
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