BKL and its team from its Vietnam office successfully advised Lotte Card in its acquisition of Techcom Finance (“TCF”), a subsidiary of Techcom Bank, a major commercial bank in Vietnam. As a result thereof, BKL has been honored to receive for three consecutive years “The Acquisition Deal of the Year” at Vietnam M&A Forum.
BKL has already won the “The Acquisition Deal of the Year” twice at Vietnam M&A Forum for providing comprehensive legal advice to Dongwon Systems in connection with its acquisition of Vietnamese Packaging Companies and to CJ CheilJedang in connection with its acquisition of two Vietnamese food companies (Cau Tre Export Goods Processing and Minh Dat Food) in 2016 and 2017, respectively.
Lotte Card acquired a 100% stake in Techcom Finance in 2017, and has steadily advanced into the Vietnamese consumer finance and credit card market. In addition, it plans to grow into a leading consumer finance and credit card company in Vietnam by strengthening the business of TCF through the financing tools and integration of TCF's customers and services based on the diverse and broad clientele of Lotte Group throughout Vietnam and overseas.
This transaction is meaningful in that it marks the first case in Vietnam’s financial market for a foreign credit institution to acquire a 100% stake in a Vietnamese credit institution.
Approaching its 10th anniversary, Vietnam M&A Forum is one of the largest M&A forums in Vietnam where over 500 leading government figures, businesses and investors participate and attend each year, presenting on the Vietnam M&A market and its prospects. Vietnam M&A Forum is organized by Vietnam Investment Review, a leading business newspaper under the auspices of the Vietnam Ministry of Planning and Investment. It also announces awards to honor the best deals and best advisory firms in Vietnam over the course of the year.
Vietnam M&A Forum 2018 – Lotte Card’s acquisition of Techcom Finance
Vietnam M&A Forum 2017 – CJ CheilJedang’s acquisition of two Vietnamese food companies (Cau Tre Export Goods Processing and Minh Dat Food)
Vietnam M&A Forum 2016 – Dongwon Systems’ acquisition of Vietnamese packaging companies (TTP and MVP)
Southeast Asia Practice Group]