Vingroup transferred all of its equity interest in Vincom Center A worth $470 million
Updated: 27/6/2013 | 9:35:56 AM
Vingroup (VIC), said the deal was completed with a total transaction value is VNĐ 9823 billion, equivalent to $470 million. Transferee is Vietnam Infrastructure And Property Development Group (VIPD Group).
The transfer was carried out in the form Vingroup transferred their entire capital (100%) in Futures Company for VIPD. Futures Company is a member company of Vingroup, it owns Vincom Center A at 53 Le Thanh Ton Street vs 171 Dong Khoi Street vs 6A Le Loi Street vs 116 Nguyen Hue Street, Ben Nghe Ward, District 1, HCMC.
Vincom Center A has a prime location in HCMC. The project consists of 6 basements and 9 floors, of which 3 basement car parks, 3 remaining basements and 4 floors is mall - entertainment - food court, from floor 5th to 9th is a 5 star luxury hotel. Vincom Center A was opened on October 10, 2012.
VIPD is an investment company operating in many areas, including real estate investment and development. VIPD owns an area of 1.1 million m2 land in prime locations throughout Vietnam, including Ho Chi Minh City, Da Nang.
Credit Suisse was financial advisor for Vingroup for this transfer deal.
(Source: VNRE)
