Warburg Pincus-led group places $200 mln bet on
A consortium led by The unit, Vincom Retail, is Hanoi-based Vincom shares ended the morning session down 2.24 percent on the benchmark VN index in Vincom's assets include high-end malls Vincom Center B in The deal is Warburg's first investment in 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 urbanization and growing middle class. 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. Vincom has two further projects due to launch this year, Vingroup is Citigroup Inc was hired as the sole financial advisor to Vingroup, while Credit Suisse Group was sole financial advisor to Warburg Pincus. Reuters |
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