A consortium led by KKR has completed the acquisition of an investment in Vinhomes, a leading real estate developer in Vietnam. The consortium also includes Temasek, an investment company headquartered in Singapore.
It is reported that the consortium has collectively invested $650 million, equivalent of 6 percent stake in Vinhomes. Vingroup is controlling shareholder of Vinhomes. Ashish Shastry, co-head of private equity for KKR Asia Pacific and head of Southeast Asia, told the media, “We are truly honored to have the opportunity to invest in a successful, leading business like Vinhomes which is an integral part of the consumer services ecosystem within the Vingroup family. This investment exemplifies the type of platinum brands and management teams KKR looks to work with in Southeast Asia. Today’s announcement further underscores our strong commitment to Vietnam, where KKR has been active and present for nearly a decade.”
Vinhomes is a subsidiary of Vingroup. The company is listed on the Ho Chi Minh City Stock Exchange. The investment into the real estate developer further emphasises the company’s attractiveness and positions the country as a leading real estate platform with significant growth opportunities in residential, commercial and industrial real estate.
Credit Suisse Singapore is the sole financial advisor to Vingroup.