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Freshfields Bruckhaus Deringer has advised Japan’s second largest bank, Sumitomo Mitsui Banking Corporation (SMBC), on its $1.5 billion acquisition of a 15 percent stake in Vietnam Prosperity Joint Stock Commercial Bank (VPBank), which was represented by YKVN.

The investment allows SMBC to expand its business to Southeast Asia, while VPBank becomes Vietnam’s second-largest private lender, Reuters reported.

YKVN managing partner Truong Quang and partner Hai Nguyen led the team advising VPBank, while the Freshfields team was led by counsel Chris Milliken.

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