Vietcombank to sell 15 pct stake to Mizuho – chairman

Vietcombank, Vietnam’s second-largest partly private bank by assets, has reached an agreement to sell a 15 percent stake to Japan’s Mizuho Corporate Bank, a unit of Mizuho Financial Group, the chairman of the Vietnamese lender said on Tuesday.

“The State Bank (of Vietnam) has agreed for us to sell our stake to Mizuho,” Chairman Nguyen Hoa Binh said, but declined to provide the value of the deal.

In July sources said Mizuho was expected to buy up to 20 percent stake in Vietcombank in a deal worth more than $500 million. – Reuters

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

Posted by VBN on Sep 27 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

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