U.S. law firm Milbank and Vietnamese law firm YKVN have advised fast-moving consumer goods conglomerate Masan Group on a $200 million investment into the company by private equity firm Bain Capital, which was represented by Clifford Chance and Allens.
“This marks Bain Capital’s first-ever investment in Vietnam and underscores its confidence in Masan’s ability to realise the immense opportunity to fulfil 100 million Vietnamese consumers’ daily grocery, financial, and other life needs,” Bain Capital and Masan said in a joint statement.
The Milbank team was led by Singapore-based partner Jacqueline Chan.
“Bain Capital’s investment is opportune for both Bain Capital and Masan Group Corporation in light of the explosive growth of Vietnam’s consumer market in the coming decades. The transaction is a landmark deal for Vietnam broadly as both domestic and foreign investors are looking to gain a foothold in Vietnam’s rapidly growing retail market,” Chan said in a statement.
The YKVN team that advised Masan was led by managing partner Truong Nhat Quang, with the support of partner Nguyen Van Hai.
Proceeds from the deal will be used to strengthen the company’s financial position and de-lever its balance sheet, Masan said in a statement.
The transaction is expected to close by the end of 2023 subject to customary corporate and regulatory approvals, including approval by the State Securities Commission of Vietnam.
