Navigos Group to sell 90 pct stake to En-Japan Inc

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Vietnamwork, a jobs website owned by Navigos Group

Japan-based En-Japan Inc has said it will buy stakes in Vietnam's leading recruitment company Navigos Group this month.

A spokesperson for Navigos, which runs the two biggest jobs websites in Vietnam, vietnamworks.com and navigosearch.com, confirmed this without providing more details, news website VnExpress said Saturday.

According to some investment funds, Navigos is likely to sell around 90 percent to En-Japan Inc, an online jobs company.

The value of the deal is estimated at around US$22 million.

Reuters last week quoted En-Japan Inc as saying it would acquire 9.98 million shares (89.8 percent stake) in Navigos for $22.11 million on April 26, and the remaining 10.2 percent by March 2016.

Founded in 2002, Navigos has 210 employees working in Ho Chi Minh City and Hanoi.

En-Japan has operations in China, Singapore, Hong Kong, Australia, and Korea.

In February US online employment giant CareerBuilder announced its Vietnam entry with a deal to buy out DFJ VinaCapital, the main shareholder of Vietnam Online Network which owns job sites HRVietnam and KiemViec.
 

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