An affiliate company of Warburg Pincus has committed to invest US$200 million to acquire 20 percent equity interest in the Hanoi-based Vincom Retail--a member company of Vingroup Corporation.
The New York-based firm may invest an additional US$100 million in Vincom Retail, if it sees further growth and opportunities in Vietnam.
When Warburg Pincus provides the additional US$100 million, Vingroup Corporation will also balance the amount as investment in Vincom Retail.
In addition, Warburg Pincus has pledged to invest upto US$25 million in Vingroup’s first initial public offering (IPO) in international securities exchange for the first time.
Vincom Retail is a subsidiary of Vingroup with assets valued at approximately US$1.1 billion. Its existing assets include Vincom Center B in Ho Chi Minh City and Vincom Center Ba Trieu and Long Bien in Hanoi.
Vincom Retail is putting into operation two leading shopping malls in Asia, and recreational and dining facilities in Vincom Mega Mall Royal City and Vincom Mega Mall Times City, both due to launch in July and December this year in Hanoi.
