Deals
HDBank in Sale Talks With Three Japan Financial Companies
This article is for subscribers only.
Ho Chi Minh City Housing Development Commercial Joint-Stock Bank is in talks with three Japanese finance firms to sell as much as a 30 percent stake, amid a wave of investments in Vietnam from Asia’s second-largest economy.
The sale of existing shares would involve more than one buyer next year, Chairwoman Le Thi Bang Tam said in an interview in Hanoi on Nov. 14. She declined to name the Japanese companies, saying the talks are confidential, or to estimate the value of the deal. Vietnamese law limits foreign ownership of a bank to 30 percent, with no more than 20 percent held by a single investor.