Latham & Watkins Advises Vingroup as GIC-led Consortium Makes VND4.7 Trillion Investment in VMC

Latham & Watkins advised Vingroup Joint Stock Company (“Vingroup”) on the VND4.7 trillion (approx. US$203.1 million) GIC-led consortium investment in VMC Holding Business Investment Joint Stock Company (“VMC”), the parent of Vinmec International General Hospital JSC, the premier private hospital developer and operator in Vietnam. The consortium’s investment will be used towards the expansion of the Vinmec medical network, to pursue breakthroughs in excellence of care and patient treatment. Following the transaction, Vingroup will continue to be the controlling shareholder of VMC.

This is the latest in a number of transactions on which Latham & Watkins has advised Vingroup, including KKR’s acquisition of a minority investment in Vinhomes Joint Stock Company, a joint venture between Vincommerce and Masan Consumer to create VCM Services and Trading Development Joint Stock Company, and on a US$500 million investment by a GIC led consortium in Vincommerce.

Hong Kong partner 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 team was led by corporate partner Amy Beckingham, counsel Richard Watkins, and associates Elena Yeung and Joshua Payne. They worked closely with the Vingroup and Vinmec senior management teams to execute this transaction.