Image from Doanh Nhan

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. 

The key members of the VILAF team advising Citigroup include Partner Duyen Ha Vo, Partner Hung Nguyen, Associate Quynh Anh Le and Associate Minh Ha Nguyen.

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Note: This deal was recognized as the ALB SE Asia Law Awards 2023 M&A Deal of the Year (Premium).