Deals
GIC Said to Pay Less Than $400 Million for Vietcombank Holding
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GIC Pte reached a preliminary agreement to pay less than $400 million for a 7.7 percent stake in Bank for Foreign Trade of Vietnam JSC, the nation’s second-biggest listed company, people with knowledge of the matter said.
The Singapore sovereign fund will buy Vietcombank stock at a discount to the current market price, the people said, asking not to be identified because the information is private. GIC signed a memorandum of agreement to purchase 305.8 million new shares of Vietcombank, part of a private placement of 359.8 million shares, it said in an e-mailed statement Monday.