{"id":660740,"date":"2013-05-29T07:59:38","date_gmt":"2013-05-29T11:59:38","guid":{"rendered":"https:\/\/www.pehub.com\/?p=250327"},"modified":"2013-05-29T07:59:38","modified_gmt":"2013-05-29T11:59:38","slug":"warburg-pincus-led-group-places-200-mln-bet-on-vietnam-retail-growth","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/660740","title":{"rendered":"Warburg Pincus-led Group Places $200 Mln Bet on Vietnam Retail Growth"},"content":{"rendered":"

A consortium led by U.S. buyouts fund Warburg Pincus<\/strong> said on Wednesday it has agreed to buy around 20 percent of the retail unit of Vietnam’s Vingroup Joint Stock Co f<\/strong>or $200 million, Reuters reports.<\/p>\n

(Reuters) – A consortium led by U.S. buyouts fund Warburg Pincus said on Wednesday it has agreed to buy around 20 percent of the retail unit of Vietnam’s Vingroup Joint Stock Co for $200 million, betting on retail growth in the Asian country.<\/p>\n

The unit, Vincom Retail, is Vietnam’s largest owner and operator of shopping malls with seven assets valued at around $1.1 billion, and the deal bucks a trend in the country where real estate sector growth has slumped as credit growth slows and banks are mired in non-performing loans.<\/p>\n

Hanoi-based Vincom shares ended the morning session down 2.24 percent on the benchmark VN index in Ho Chi Minh City before the announcement was made.<\/p>\n

Vincom’s assets include high-end malls Vincom Center B in Ho Chi Minh City and Vincom Center Ba Trieu in Hanoi, targeted to tap Vietnam’s growing consumer market.<\/p>\n

The deal is Warburg’s first investment in Vietnam, and it is the largest initial investment to date in a Vietnamese company by a global private equity firm.<\/p>\n

Warburg, which manages over $40 billion in assets and has been investing in Asia since 1994, said the investment in Vincom Retail should benefit from the country’s “favorable long-term economic outlook,” rapid urbanisation and growing middle class.<\/p>\n

Warburg has the right to participate in future capital raisings by Vingroup for up to $25 million, while the consortium has the right to invest an additional $100 million in Vincom Retail for expansion and future retail property-related deals.<\/p>\n

Vincom has two further projects due to launch this year, Vincom Mega Mall Royal City and Vincom Mega Mall Times City.<\/p>\n

Vingroup is Vietnam’s largest private-sector real estate operator and one of the largest companies by market capitalisation on the Ho Chi Minh City Stock Exchange.<\/p>\n

Citigroup Inc was hired as the sole financial advisor to Vingroup, while Credit Suisse Group was sole financial advisor to Warburg Pincus.<\/p>\n

The post Warburg Pincus-led Group Places $200 Mln Bet on Vietnam Retail Growth<\/a> appeared first on peHUB<\/a>.<\/p>\n

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A consortium led by U.S. buyouts fund Warburg Pincus said on Wednesday it has agreed to buy around 20 percent of the retail unit of Vietnam’s Vingroup Joint Stock Co for $200 million, Reuters reports. (Reuters) – A consortium led by U.S. buyouts fund Warburg Pincus said on Wednesday it has agreed to buy around […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-660740","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/660740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=660740"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/660740\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=660740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=660740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=660740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}