ENERGY

Vinh Tan 1 BOT Power Project reaching financial close

VILAF advised sponsors including China Southern Power Grid Co., Ltd. (“CSG”), China Power International Holding Limited (“CPIH”) and Vinacomin Power Holding Corporation Limited (“VP”), and the BOT Company being Vinh Tan 1 Power Company Limited in relation to the negotiation of the BOT documents and financing of USD1.4 billion Vinh Tan 1 BOT Power Project in Binh Thuan Province.

This is the 4th foreign invested BOT power project in Vietnam reaching financial close. The financing stage has taken more than one and a half year. The construction stage will take around four years.

The VILAF team advising this project included Partner Dang Duong Anh and Senior Associate Nguyen Vu Quynh Lam.

CPECC in the joint venture acquisition of Jaks Hai Duong BOT Power Project

VILAF was Vietnam counsel advising CPECC in its joint venture acquisition of a holding company which owns Jaks Hai Duong Power Project, a USD1.87 billion coal-fired power plant project to be developed on a BOT basis in Vietnam.  

The VILAF team advising this project included Partner Vo Ha Duyen, Senior Associate Nguyen Anh Hao, Senior Associate Vu Le Trung and Associate Nguyen Thanh Tung.

Mitra Energy in the reverse takeover of Petra Petroleum

VILAF advised Mitra Energy in a Reverse Takeover of Petra Petroleum pursuant to the TSX Venture Exchange (the "Exchange") Policy 5.2 - Changes of Business and Reverse Takeovers. Mitra Energy’s assets in Vietnam affected by this Reverse Takeover include five upstream petroleum blocks offshore Vietnam under production sharing contracts with PetroVietnam.

Partner Luu Hoang Ha advised this deal.

JPower’s divestment from Petro Vietnam Power Nhon Trach 2 JSC

VILAF advised JPower (The Electric Power Development Co., Ltd.) in the divestment of its entire 5% shares from Petro Vietnam Power Nhon Trach 2 JSC. The deal value amounted to more than USD10 million.

Partner Dang Duong Anh advised in this deal.

M&A

Mondelez acquiring the snack business of Kinh Do Corporation

VILAF advised Mondelez International Inc as its local counsel in its acquisition of 80% of equity stake in Kinh Do Group’s snack business for $370 million. Mondelez is the maker of Oreo cookies and Ritz crackers. According to Reuters, the deal includes two manufacturing plants and Kinh Do’s distribution network. Kinh Do is Vietnam's biggest snack producer and is the maker of Cosy biscuits and Solite soft cakes.

The VILAF team advising this deal included Partner Vo Ha Duyen, Partner Pham Si Hai Quynh, Senior Associate Trinh Luong Ngoc, Senior Associate Tran Anh Hien and Senior Associate Nguyen Anh Hao.

Gamuda Land buying out Celadon City

VILAF advised Gamuda Land in the acquisition of its Vietnamese partners’ shares in Celadon City Project to become the sole owner of this project. Celadon City is a VND25,000 billion urban development project in Tan Phu, Ho Chi Minh City, initially invested by a joint venture of Gamuda Land and Sacomreal.

The VILAF team advising this project included Partner Ngo Thanh Tung and Senior Associate Nguyen Thi Kim Anh.

Nguyen Kim joint venture acquisition deal

VILAF advised Nguyen Kim in the sale of 49% equity stake in NTK New Solution and Technology Development Investment Joint Stock Co, which owns Nguyen Kim with a chain of 23 electronic stores, to Power Buy Company Limited, a retail subsidiary of Thai retail conglomerate Central Group. Founded in 1992, Nguyen Kim is currently the largest electronic retail operator in Vietnam.

The VILAF team advising this deal included Partner Tran Tuan Phong, Senior Associate Phan Thien Huong and Associate Nguyen Kim Ngan.

Acquisition of South Hoi An Project

VILAF advised a consortium of Hong Kong investors represented by VMS Investment in acquiring 80% equity interest in South Hoi An Project, which is a USD4 billion integrated project of casino, hotels, and residential units.

Partner Vo Ha Duyen and Senior Associate Nguyen Anh Hao advised in this deal.

Credit Saison merges with HD Finance

VILAF advised Credit Saison Co., Ltd, a major Japanese credit finance company, in its acquisition of 49% of the equity interest in Ho Chi Minh City Development Commercial Joint Stock Bank Finance Co., Ltd. (HD Finance), a Vietnamese company providing retail finance services. The newly branded, HD Saison, will now offer extensive consumer finance and credit card services.

The VILAF team advising on this deal included Partner Kevin Hawkins, Senior Associate Nguyen Anh Hao, and Associate Nguyen Thanh Tung.

Creed Group invests in Vietnam’s realty company, An Gia Investment

VILAF advised Creed Group in investing US$200 million for 20% equity stake holding in Vietnam’s real estate company, An Gia Investment, and 50% equity stake holding in a number of An Gia Investment’s residential projects held via a holding company, to develop “Japanese quality” housing services in Ho Chi Minh City. The Creed Group began investing in Vietnam real estate last year.

The VILAF team advising Creed Group in this deal include Partner Vo Ha Duyen, Senior Associate Nguyen Thi Phuong Nga and Senior Associate Trinh Luong Ngoc.

Amata Corporation joint venture in hi-tech industrial zone in Ha Long City

VILAF advised Amata Corporation in a US$1.6 billion joint venture with Tuan Chau Group in the development of a high tech industrial park in Ha Long City, named, Amata City Ha Long Industrial Estate. Following the transaction, Amata holds 70% equity stake in the joint venture.

The VILAF team advising Amata Corporation in this deal include Partner Vo Ha Duyen and Senior Associate Nguyen Thi Phuong Nga.

SCG bolstering its packaging business with acquisition into BATICO

VILAF advised TC Flexible Packaging Co, a subsidiary of Siam Cement Group (SCG) in relation to its acquisition of 80% shareholding in BATICO, a Vietnamese packaging manufacturing company in Vietnam. This recent acquisition of BATICO makes SCG Packaging the region’s leading packaging company, with two flexible packaging factories in Thailand and two in Vietnam.

The VILAF team advising on this deal included Partner Kevin Hawkins, Senior Associate Trinh Luong Ngoc and Associate Nguyen Thi Kim Ngan.

VinaCapital sale of shares in An Giang Plant Protection JSC

VILAF advised VinaCapital Hospitality Ltd. in the sale of shares in An Giang Plant Protection JSC to private equity funds in a US$58 million transaction.

Partner Dang Duong Anh advised this deal.

Shibusawa Warehouse acquiring shares in Vinafco

VILAF advised Shibusawa Warehouse, a Japan based company engaged in the operation of logistics and real estate business, in an acqusition of 35% shares in Vinafco Joint Stock Corporation. The target company is a listed logistics services company.

Partner Nguyen Quang Vu advised this deal.

Showa Aluminum Can Corporation and Showa Denko K.K. acquiring shares of Hanacans

VILAF advised Japanese Showa Aluminum Can Corporation in acquiring 91.5%, valued at about USD 100 million of the share capital in Hanacans, an aluminum can manufacturer in Vietnam. The sellers were local shareholders of the target company.

Partner Dang Duong Anh and Senior Associate Nguyen Vu Quynh Lam advised this deal.

Dai Nippon Printing Co., Ltd. acquiring shares in MK Smart

VILAF advised Dai Nippon Printing Co., Ltd., a Japan based company engaged in the operation of electronic devices and information media, including printed materials, smart cards, IPS and network, etc., in an acquisition of 36.33% shares in MK Smart Joint Stock Company. The target company is a high-tech data manufacture of smart cards (micro-chip cards), magnetic cards and other type of data cards, and smart card personalization service.

The VILAF team advising on this deal included Partner Bui Ngoc Anh, and Associate Mac Phuong Khanh and Pham Thuy Anh.

Buyout of VID Public Bank by Public Bank Berhad (Malaysia)

VILAF advised Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) in the buyout of its 50% capital interest in VID Public Bank by Public Bank Berhad (Malaysia) amounting to USD62.5 million. Originally, VID is a joint venture bank between BIDV and Public Bank Berhad.

Partner Tran Tuan Phong advised in this deal.

FINANCE AND CAPITAL MARKETS

Standard Chartered Bank (SCB) in a CGIF bond deal

VILAF advised SCB in Masan Consumer’s issue of USD100 million corporate bonds, guaranteed by the Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank (ADB). This has been the first corporate bond issue which the ADB supported in Vietnam.

Partner Nguyen Quang Hung advised this deal.

BTMU in USD510 million financing new highway project

VILAF was Vietnam counsel advising Bank of Tokyo – Mitsubishi UFJ in syndicated Nexi loan to provide USD510 million to finance a highway project connected to Da Nang. 17 Japanese banks participated in this landmark financing transaction. This deal was awarded the “Deal of the Year 2014” for the Asia Pacific region by Euromoney's Trade Finance Magazine.

The VILAF team advising this deal included Partner Vo Ha Duyen and Associate Nguyen Thanh Tung.

Citibank arranging USD225 million Nexi Facility to finance power transmission lines

VILAF advised Citibank Japan, Ltd as its Vietnam counsel in relation to the Nexi Facility Agreement arranged by Citibank to finance power transmission lines projects in Vietnam to be developed by the National Power Transmission Corporation.

The VILAF team advising this deal include Partner Vo Ha Duyen, Senior Associate Nguyen Thi Kim Anh and Associate Nguyen Thanh Tung.

AWAS arranged financing for Jetstar Pacific

VILAF advised AWAS, a global leader in commercial aircraft leasing, in arranging financing Airbus aircrafts for the Vietnamese operator, Jetstar Pacific. Jetstar Pacific is a low cost Vietnamese airline that charters domestic and international flights that includes Macau, Singapore, and Thailand. The estimated value of the deal is between USD30-50 million.

Partner Tran Tuan Phong advised this deal.

Standard Chartered Bank in arranging financing for BIDV and Vietinbank

VILAF advised Standard Chartered Bank as its local counsel in relation to several USD100 million secured financing transactions to provide financing to BIDV and Vietinbank.

The VILAF team advising in this deal is Partner Vo Ha Duyen and Associate Nguyen Thanh Tung.

Deutsche Bank arranging USD200 million facility to finance urban development project

VILAF advised Deutsche Bank as its local counsel in the arrangement of a USD200 million secured loan facility to finance an urban development project in the South of Vietnam to be developed by Vingroup.

The VILAF team advising this deal includes Partner Vo Ha Duyen, Partner Nguyen Quang Hung and Senior Associate Nguyen Thi Kim Anh.

Techcom Securities and Novaland in bond issuance

VILAF advised Techcom Securities (a subsidiary of Techcombank) and Novaland in the issuance of VND600 billion domestic bonds with tenor of 3 years. Novaland is a real estate developer in Ho Chi Minh City with the value of its total assets of more than VND10,000 billion. The successful bond arrangement helps Novaland in developing of its projects such as Lexington Residence, The Sun Avenue, Icon 56, Galaxy 9 and Sunrise City.

The VILAF team advising this deal included Partner Nguyen Truc Hien and Associate Nguyen Thanh Tung.

Japfa’s IPO in Singapore

Japfa, the Indonesian meat processor and dairy farm operator by the Santosa family, opened its doors to the public in an IPO valued at USD160 million at the Singapore Exchange.

Japfa also owns 57.5% of PT Japfa Comfeed Tbk listed in Jakarta.

Partner Dang Duong Anh and Partner Nguyen Quang Hung advised in this deal.

DISPUTE RESOLUTION

SK E&C vs. Vinalines

VILAF advised SK Engineering & Construction Co., Ltd. (SK E&C) in a construction dispute with Vinalines, in a case that last for more than a year. SK E&C won the arbitration and Vinalines filed a petition with the court in Ha Noi to challenge the arbitral award. The court ultimately denied Vinalines’ petition and upheld the arbitral award.

Partner Nguyen Duy Linh advised this case.

West of England vs. Saigon Petro Co., Ltd.

VILAF represented West of England, HK, the owner of M/t Kasco in the collision case between M/t Kasco and Jetty B of Saigon Petro.

Partner Ngo Thanh Tung advised in this case.

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