AEON Moves to Void PTF Acquisition Over Financial Discrepancies
Deal News | Jun 09, 2025 | EIN
AEON Financial Services has moved to invalidate its recent acquisition of Post and Telecommunication Finance Company Limited (PTF) from SeABank, citing inappropriate accounting transactions. The Japanese financial services firm revealed these discrepancies during the post-merger integration process after officially acquiring PTF in February 2025. Initially agreed upon in October 2023 for an estimated 26,200 million Yen, or US$170 million, the acquisition is now contested legally by AEON, who seeks compensation for damages and a reimbursement of acquisition-related costs. Despite the setback, AEON intends to continue its business operations in Vietnam.
Sectors
- Financial Services
- Mergers & Acquisitions
Geography
- Vietnam – The target company, PTF, is based in Vietnam, and the legal proceedings are under Vietnamese law.
- Japan – AEON Financial Services, the acquirer, is a Japanese company.
Industry
- Financial Services – The article discusses a deal involving AEON Financial Services and PTF, which are both within the financial services industry.
- Mergers & Acquisitions – The focus of the article is on a merger and acquisition activity between AEON Financial Services and PTF.
Financials
- 26,200 million Yen (US$170 million) – The acquisition price for PTF by AEON Financial Services.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AEON Financial Services | Bidding Company | Company | A Japanese financial services group involved in the acquisition of PTF. |
| Post and Telecommunication Finance Company Limited (PTF) | Target Company | Company | A Vietnamese finance company acquired by AEON Financial Services. |
| Southeast Asia Commercial Joint Stock Bank (SeABank) | Selling Company | Company | The vendor from which AEON acquired PTF. |
| Local External Lawyer | Legal Advisor | Person | Assisted AEON Financial in the investigation of financial discrepancies. |