HANOI (June 16): A KKR-led consortium of investors, which includes Temasek Holdings, have invested VND15.1 trillion, or US$650 million for a 6% stake into Vietnam’s largest developer Vinhomes.
Vinhomes, listed on the Ho Chi Minh Stock Exchange, has a real estate portfolio across residential, commercial and industrial sectors.
“This investment exemplifies the type of platinum brands and management teams KKR looks to work with in Southeast Asia,” says Ashish Shastry, co-head of private equity for KKR Asia Pacific & Head of Southeast Asia.
“Today’s announcement further underscores our strong commitment to Vietnam, where KKR has been active and present for nearly a decade.”
Upon completion of this deal, Vingroup, a Vietnamese conglomerate with interests in technology, industrials, hospitality, education and healthcare, remains the largest shareholder of Vinhomes.
Credit Suisse (Singapore) Limited acted as sole financial advisor to Vingroup.
The article 'KKR, Temasek takes 6% stake in Vinhomes for US$650 mil' first appeared in TheEdgeSingapore.
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