June 25, 2020
A consortium led by KKR has completed the acquisition of a minority investment in Vinhomes Joint Stock Company (HOSE: VHM), the largest real estate developer in Vietnam. The KKR-led consortium (whose members include Temasek Holdings (Private) Limited) collectively invested VND15.1 trillion (US$650 million) which translates into a c.6% equity stake in Vinhomes Joint Stock Company. Vingroup Joint Stock Company continues to be the controlling shareholder of Vinhomes Joint Stock Company after the transaction.
“This latest investment represents a strong endorsement of Vinhomes, Vingroup, and the wider Vietnamese market,” said Anne Pham – Chief Investment Officer at Vingroup. “We are delighted to have partnered with the team at Latham & Watkins on yet another significant deal in the region.”
“Vietnam continues to be an attractive destination for international investors,” added Sharon Lau, Singapore corporate partner and Vice Chair of Latham’s Global Corporate Department. “We are proud to have assisted our long term client Vingroup on this latest high-profile transaction.”
Latham & Watkins represented Vingroup Joint Stock Company and its affiliates on the transaction with a corporate team led by Singapore partner Sharon Lau, associates Gwenlynne Lee, Edward Tang, Chuan Wei Kong, and Sarah Soh, and trainee Rebecca Han. Partners Amy Beckingham, Posit Laohaphan, Timothy Hia, and Lene Malthasen, and counsels Derek Chua and Annie Froehlich also advised. Credit Suisse acted as sole financial advisor to Vingroup.