Channel NewsAsia
Channel NewsAsia
AsiaPac · 2 hrs ago

Exclusive-BNP Paribas, KB Kookmin in talks for $2 billion Vietnam Techcombank stake, sources say

HONG KONG/HANOI, Aug 26 : France's BNP Paribas and South Korea's KB Kookmin Bank are in separate talks to acquire at least a 15 per cent stake in Vietnam's Techcombank as strategic investors, in a deal that could be worth $2 billion, two sources said.The potential deal, which has not been reported previously, would give the winner rare access to Vietnam's fast-growing banking market and end Techcombank's long search for a foreign strategic partner.Techcombank is seeking a valuation of about two times its book value, said the sources, who are familiar with the deal discussions but spoke on condition of anonymity as they were not authorised to speak to the media. If agreed, that would value a 15 per cent stake in Vietnam's third-largest privately owned bank by total assets at around $2 billi
Channel NewsAsia
Do you trust Channel NewsAsia?
Sign in to rate
Discussion
?

No comments yet — be the first to start the discussion!