Freshfields advises on largest private equity deal in VietnamFreshfields Bruckhaus Deringer (‘Freshfields’) has advised Warburg Pincus on a US$370m investment in shares in Vietnam Technological and Commercial Joint Stock Bank (‘Techcombank’) prior to Techcombank’s IPO. The deal, which is subject to regulatory approval, marks the largest-ever private equity investment in Vietnam.
Techcombank is one of the most profitable banks in Asia based on last twelve months earnings per share growth, return on equity and return on assets. It is the largest completely private commercial bank in Vietnam based on FY17 total operating income and profit before tax.
This transaction is Warburg Pincus’ fourth investment in Vietnam in the last five years and will be its largest investment in Southeast Asia to date. Freshfields also advised Warburg Pincus on earlier investments in Vietnamese corporates Vincom Retail and Lodgis.
The Freshfields team advising on the deal was led by partners Tony Foster and Simon Weller, supported by a cross-office team of lawyers in Vietnam, Hong Kong, Singapore and Amsterdam.
Notes for editors
About Freshfields Bruckhaus Deringer
Freshfields Bruckhaus Deringer LLP is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on ground-breaking and business-critical mandates. Our 2,800 plus lawyers deliver results worldwide through our own offices and alongside leading local firms. Our commitment, local and multi-national expertise and business know-how means our clients rely on us when it matters most.