Local firm gets foreign investment
The world leading investment fund Warburg Pincus has signed a contract
to spend 200 million USD acquiring 20 percent of stake of Vincom Retail,
a subsidiary of Vingroup, one of Vietnam’s leading real estate groups.
The world leading investment fund Warburg Pincus has signed a contract
to spend 200 million USD acquiring 20 percent of stake of Vincom Retail,
a subsidiary of Vingroup, one of Vietnam’s leading real estate groups.
The contract marks the largest first amount of a global investment fund poured into a Vietnamese business.
After the transaction is completed, Vincom Retail will be valued at approximately 1.1 billion USD.
Warburg Pincus has also pledged to invest 25 million USD in Vingroup (coded VIC) in its Initial Public Offering (IPO) to the international market in the coming time.
Vincom Retail is now the Vietnam’s largest owner and operator of shopping malls, with seven properties.
It also has a number of underway projects, including Vincom Mega Mall Royal City and Vincom Mega Mall Times City, which are both scheduled to be launched later this year.-VNA
The contract marks the largest first amount of a global investment fund poured into a Vietnamese business.
After the transaction is completed, Vincom Retail will be valued at approximately 1.1 billion USD.
Warburg Pincus has also pledged to invest 25 million USD in Vingroup (coded VIC) in its Initial Public Offering (IPO) to the international market in the coming time.
Vincom Retail is now the Vietnam’s largest owner and operator of shopping malls, with seven properties.
It also has a number of underway projects, including Vincom Mega Mall Royal City and Vincom Mega Mall Times City, which are both scheduled to be launched later this year.-VNA
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