Latham & Watkins suggested Vingroup Joint Stock Company (“Vingroup”) on the VND4.7 trillion (approx. US$203.1 million) GIC-led consortium funding in VMC Holding Business Investment Joint Stock Company (“VMC”), the guardian of Vinmec International General Hospital JSC, the premier non-public hospital developer and operator in Vietnam. The consortium’s funding shall be used in direction of the growth of the Vinmec medical community, to pursue breakthroughs in excellence of care and person in care remedy. Following the transaction, Vingroup will proceed to be the controlling shareholder of VMC.
This is the newest in numerous transactions on which Latham & Watkins has suggested Vingroup, together with KKR’s acquisition of a minority funding in Vinhomes Joint Stock Company, a three way partnership between Vincommerce and Masan Consumer to create VCM Services and Trading Development Joint Stock Company, and on a US$500 million funding by a GIC led consortium in Vincommerce.
Hong Kong associate Amy Beckingham commented: “We are delighted to have supported our longstanding client Vingroup on this landmark transaction. We wish them and the GIC-led consortium every success with the further development of VMC.”
Latham’s Hong Kong based mostly group was led by company associate Amy Beckingham, counsel Richard Watkins, and associates Elena Yeung and Joshua Payne. They labored intently with the Vingroup and Vinmec senior administration groups to execute this transaction.