Vietnam Management Channel

Vinhomes agrees to sell 6% of shares to KKR and Temasek for $650 million USD

KKR-led consortium buys 6% stake in Vietnam's Vinhomes for $650 million.

International investment firms, Kohlberg Kravis Roberts (KKR), which is headquartered in the United States and Temasek, headquartered in Singapore purchased 6% of Vietnam property firm Vinhomes on Monday for $650 million USD.

Vinhomes is the real estate arm of Vingroup, Vietnam’s largest private business group. Details of the transaction that were released by the parties said that KKR and Temasek had purchased 201 million shares of the real estate giant on the Ho Chi Minh Stock Exchange at a price of $3.25 USD (75,000 VND) per share.

KKR said in a statement that it sees Vinhomes as a leading real estate platform in Vietnam and that it has access to a sizeable land plots throughout the country and this provides the company with significant growth opportunities in residential, commercial and industrial real estate.

KKR has been active in Vietnam for almost 10 years and has made a investments into Masan Consumer ($360 million USD) and Masan Meat Life ($250 million USD).

Temasek is the official investment arm for the Singapore government has also made previous investments in Vietnam and is a current stakeholder in Vietnam gaming firm VNG.

As can be expected with a deal of this size, on Tuesday Vinhomes VHM shares prices rose 7% to $3.25 USD (75,000 VND).

 

 

 

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