Clifford Chance has advised Mondelez International on its agreement to pay $370 million to buy an 80 percent stake in the snack business of Vietnamese company Kinh Do, which is being counseled by the Ho Chi Minh office of Allen & Overy.

Vilaf represented Mondelez on Vietnam law.

According to Reuters, Mondelez, which already has a small presence in Vietnam selling some of its Oreo, Ritz and Cadbury products, will acquire two Kinh Do manufacturing facilities, as well as Kinh Do's distribution network. Kinh Do is Vietnam's biggest confectionary producer, and makes products such as Cosy biscuits and Solite soft cakes.

The Clifford Chance team was lead by Singapore-based corporate partner Simon Clinton, who was assisted by partners Valerie Kong (M&A), Ling Ho (intellectual property) and Richard Blewett (antitrust).

The transaction is subject to a number of conditions including obtaining approval by Kinh Do's shareholders, as well as the restructuring by Kinh Do of its snacks division into one business entity, BKD.