Notable Recent Projects

Aviation

Avolon Aerospace leasing Airbus aircrafts to Vietnam Airlines and Bamboo Airways

VILAF advised Avolon Aerospace Limited in the refinancing of an Airbus A350 leased by Vietnam Airlines and in the leasing of several Airbus A350 aircrafts to Vietnam Airlines and Bamboo Airways.

Partner Duyen Ha Vo and Counsel Kim Anh Nguyen advised these deals.

Banking & Finance

Advises Citigroup in the sale of its Vietnam retail banking business to UOB

VILAF advises Citigroup as Vietnamese law counsel in the sale of its Vietnam retail banking business to United Overseas Bank (Vietnam) Limited (UOBV).
The transaction closing is subject to relevant regulatory approvals.

The sale of the Vietnam retail banking business is part of the sale by Citigroup of its Southeast Asia retail business (Vietnam, Indonesia, Malaysia, and Thailand) in the US$3.7 billion package deal with UOB. The portfolio includes unsecured and secured lending portfolios and retail deposit businesses. 

This has been recognized as M&A Deal of the Year (Premium) in the ALB SE Asia Law Awards 2023.

The key members of the VILAF team advising Citigroup include Partner Duyen Ha Vo and Counsel Kim Anh Nguyen 

M&A Financial Sector

Acquisition of Asia Commercial Bank Shares

advised Alp Asia Finance (Vietnam) Limited in the acquisition of 100% shares in Sather Gate Investment Limited from Sather Gate Investment Holdings Limited and 100% shares in Whistler Investments Limited from Whistler Investments Holdings Limited. Both Sather Gate and Whistler held 4.99% shares of Asia Commercial Bank (ACB). Each held 51.1 million ACB shares.

Partner Duyen Ha Vo and Counsel Kim Anh Nguyen 

Capital Markets

advised SCG Decor on its IPO

has advised SCG Decor Public Company Limited (SCGD) as Vietnamese law counsel in its successful initial public offering on the Thailand Stock Exchange on 20 December 2023.

SCGD, a leader in the complete surface decoration and sanitary ware business both in Thailand and the ASEAN region, with its capitalized value of 18,975 million baht (approx. US$543 million), becomes the largest IPO in Thailand stock market this year.

SCGD has a paid-up registered capital after offering shares of 16,500 million baht with a par value of 10 baht per share by offering additional common shares to the general public and making a tender offer to purchase all securities from shareholders of SC Public Company Limited, G Ceramics (COTTO) by exchanging IPO shares of SCGD according to the restructuring plan. By offering a total of 439.1 million additional shares, with subscription scheduled between 1 November – 13 December 2023 at a final offering price of 11.50 baht per share, the IPO represented a fundraising value of 5,049.65 million baht (approx. US$144.5 million).

Partner Duyen Ha Vo and Counsel Kim Anh Nguyen 

Corporate/M&A

advised SCG Decor on its IPO

has advised SCG Decor Public Company Limited (SCGD) as Vietnamese law counsel in its successful initial public offering on the Thailand Stock Exchange on 20 December 2023.

SCGD, a leader in the complete surface decoration and sanitary ware business both in Thailand and the ASEAN region, with its capitalized value of 18,975 million baht (approx. US$543 million), becomes the largest IPO in Thailand stock market this year.

SCGD has a paid-up registered capital after offering shares of 16,500 million baht with a par value of 10 baht per share by offering additional common shares to the general public and making a tender offer to purchase all securities from shareholders of SC Public Company Limited, G Ceramics (COTTO) by exchanging IPO shares of SCGD according to the restructuring plan. By offering a total of 439.1 million additional shares, with subscription scheduled between 1 November – 13 December 2023 at a final offering price of 11.50 baht per share, the IPO represented a fundraising value of 5,049.65 million baht (approx. US$144.5 million).

Partner Duyen Ha Vo and Counsel Kim Anh Nguyen 

Energy

Van Phong 1 BOT power project financing

advised Sumitomo Corporation in the financing of the Van Phong 1 Coal-Fired Power Plant in Khanh Hoa province. This 11-year project achieved financial closure in April 2019 with a total value of US$1.869 million.

Partner Duyen Ha Vo and Counsel Kim Anh Nguyen