BKL advised the Korean commercial
bank KEB Hana Bank on its 1.02 trillion KRW purchase of a 15% stake
(603,302,706 common shares) in the Joint Stock Commercial Bank for Investment
and Development of Vietnam (“BIDV”).
BIDV is one of the three largest state-owned banks in Vietnam, having its own stock
brokerage, finance leasing, insurance and asset management limbs.
KEB Hana Bank, through this
investment, hopes to firmly establish itself in the fast growing Vietnam market
and is planning to provide high-quality financial services to Korean and
Vietnamese companies based in Vietnam by collaborating with BIDV and its
subsidiaries. In particular, KEB Hana Bank and BIDV aim to develop together by
taking advantage of each other’s strengths in different areas - KEB Hana Bank
utilizing BIDV’s network in Vietnam’s financial market as well as other local know-how
while BIDV learning from KEB Hana Bank’s strengths in commercial and digital
BKL’s South Asia team and Vietnam office
provided comprehensive advice to KEB Hana Bank, from beginning to end, advising
on the transaction structure, conducting legal due diligence, drafting and
negotiating transaction documents and assisting with the approval process from
the State Bank of Vietnam and the relevant authorities in Korea.
The BKL team was critical to the successful
closing by advising on several different aspects of Vietnamese law and Korean