KKR, Temasek invest $650 mil. in real estate arm of Vietnam conglomerate Vingroup
HANOI, NNA – A group of investors including U.S. investment fund KKR & Co. Inc. and Singapore government-backed Temasek Holdings Pte. Ltd. has collectively invested 15.1 trillion dong ($650 million) in a real estate arm of Vietnam’s largest conglomerate, Vingroup.
Vingroup said in a statement on Tuesday that through the transaction it sold a 6 percent stake in Vinhomes Joint Stock Co., a leading developer of residential, industrial and commercial properties in the country.
The latest investment illustrates the “strong development prospects and growth” of Vinhomes, a subsidiary of the Southeast Asian country’s biggest private firm. Credit Suisse (Singapore) Ltd. was a financial advisor in the deal, the statement said.