Vietnamese law firm Indochine Counsel has advised Truong Hai Auto Corporation (THACO), one of the country’s leading carmakers, on its strategic investment of up to $1 billion in Hoang Anh Gia Lai Group, which has interests in industries such as property and agriculture.
HAGL was represented by its in-house team. The Indochine Counsel team was led by managing partner Dang The Duc.
Under the terms of the agreement, THACO has paid around 3.8 trillion dong ($168.14 million) for the convertible bonds and shares of HAGL Agrico, the agricultural arm of HAGL. THACO will also set aside 12 trillion dong ($530.97 million) to fully restructure HAGL Agrico.
Additionally, THACO, through its subsidiary Dai Quang Minh Real Estate Investment JSC, will take over the HAGL Myanmar Centre complex in downtown Yangon. THACO bought a 51 per cent stake in the centre and is expected to increase its holdings to 65 per cent with the total investment of 4 trillion dong. THACO and Dai Quang Minh will also invest $320 million in the second phase of HAGL Myanmar Centre.
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