Binh Tay Import Export Production Service Joint Stock Company agreed to acquire 75% stake in Phuong Nam retail Co., Ltd. from Phuong Nam Cultural Joint Stock Corporation (HOSE:PNC) on January 22, 2015. Under the terms of agreement, Phuong Nam Cultural will sell stake at a price not lower than more than double the price of than the charter capital. The transaction is subject to approval of shareholders Phuong Nam Cultural. The Board of Director of Phuong Nam Cultural approved the transaction on January 22, 2015.

Binh Tay Import Export Production Service Joint Stock Company cancelled the acquisition of 75% stake in Phuong Nam retail Co., Ltd. from Phuong Nam Cultural Joint Stock Corporation (HOSE:PNC) on January 22, 2016.