Mizuho to Become Vietcombank Partner

Mizuho Corporate Bank Ltd. Friday signed an agreement to buy a 15% stake in the Joint Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, for roughly $567.3 million.
Under the deal signed in Hanoi, Mizuho Corporate Bank will buy 347.6 million new shares from Vietcombank for 34,000 dong a share.
The purchase makes Mizuho Corporate Bank the sole foreign strategic shareholder of Vietcombank, Vietnam’s largest listed bank by market capitalization.
The Japanese lender is expected to make the payment for the share purchase in the first quarter of next year.
Mizuho Corporate Bank will offer Vietcombank technical assistance, training and business opportunities.”-Source:StoxPlus.com”

Tags: Mizuho, Vietcombank Partner, Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by quynhdn on Oct 2 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry