MALAYSIA’S PUBLIC BANK VIETNAM TO TAKE OVER RHB SECURITIES VIETNAM

We are pleased to announce that ENT Law has successfully assisted a transfer of 100% of the capital contribution of RHB Investment Bank (RHBIB) in RHB Vietnam Securities Company Limited (RHBSVN) to Public Bank Vietnam Limited (PBVN). Our lawyers have handled all legal work of the transaction, including structure of the M&A transactions, legal due diligence, negotiation of transferring documents (CSPA, Escrow Account Agreement…), fulfillment of conditions precedent and update of documentation recording the transfer at the State Securities Commission (SSC) and the Hanoi Department of Planning and Investment (DPI). The process has extended over a year, with significant efforts from ENT Law’s legal team. As of now, approvals have been obtained from Bank Negara (Malaysia’s Central Bank), the State Bank of Vietnam (SBV), and the State Securities Commission of Vietnam (SSC). The final step of the transaction is an approval from the Hanoi DPI for the change of ownership from RHBIB to PBVN, and the renaming of RHBSVN, all of which will be completed by July 2024.

Our lawyers are highly regarded by client, RHBIB, and its counter-party due to our expertise and experience in M&A, ability to “read” the happenings of the deal, and skill in balancing the interests of all relevant parties. The M&A transaction has been gone smoothly, resulting in maximum benefits as well as creating win-win situation for both client and its counter-party.

https://www.publicbank.com.vn/News/NewsDetail/213