Clifford Chance
Clifford Chance advises Home Credit on sale of its Vietnam business to Siam Commercial Bank for €800 million
4 March 2024
- Emma Davies, Vipavee Map Kaosala, Ryan Wong, , Petra Ho, Adam Boulanger, Zayed Al Jamil, , Hemin Hazar, , , Hari Pannum, Nicola Hemsley, Vadim Romanoff, Archie Zverev
- Hong Kong, London
Clifford Chance advises Home Credit on sale of its Vietnam business to Siam Commercial Bank for €800 million
Global law firm Clifford Chance has advised consumer finance provider Home Credit Group B.V. on its conditional and framework agreement to sell its Home Credit Vietnam business for approximately €800 million to The Siam Commercial Bank Public Company Limited (SCB), a subsidiary of SCB X Public Company Limited (SCBX). The transaction is subject to regulatory approvals in Vietnam and Thailand.
The Clifford Chance team was led by Hong Kong partner Emma Davies, with counsel Vipavee Map Kaosala and Ryan Wong managing the cross-border and cross-practice teams advising on the international aspects of the deal, including:
- M&A aspects: associates Ryan Siu, Petra Ho and Adam Boulanger in Hong Kong;
- Tech and data separation aspects: partner Zayed Al Jamil, senior associates Sally Samadi, Hemin Hazar and Jenni Polson, and lawyers Alex Dixey and Hari Pannum in London;
- International tax aspects: partner Nicola Hemsley, director Vadim Romanoff, associate Archie Zverev and trainee Harry Christoforou in London; and
- Vietnamese local law aspects: Allens.
Home Credit Vietnam holds the second largest market share in the Vietnamese consumer finance sector, having undergone rapid digitalisation in recent years. It serves more than 15 million customers nationwide, and employs 6,000 people.
Clifford Chance previously advised Home Credit on the sale of its Philippines and Indonesian operations to Mitsubishi EFJ Financial group.
