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Warburg Pincus adds to Vincom Retail investment

Released at: 13:10, 29/06/2015

Warburg Pincus adds to Vincom Retail investment

Additional $100 million investment to go to malls and broader retail platform.

by Thu Hoang

The Vingroup Joint Stock Company announced today that Warburg Pincus has completed a follow-on minority investment of approximately $100 million in Vincom Retail, a subsidiary of Vingroup.

The follow-on investment brings the total investment to date by the Warburg Pincus to $300 million, making it one of the largest investments by a private equity firm ever in Vietnam.

“We are very pleased with the growth and performance of Vincom Retail since our initial investment,” said Mr. Jeffrey Perlman, Managing Director of Warburg Pincus. “We believe strongly in the long-term economic prospects for Vietnam on the back of continued urbanization and emerging middle-class consumption.”

“Vincom Retail has more than tripled the size of its portfolio since we first partnered with Warburg Pincus two years ago,” said Ms. Duong Thi Mai Hoa, CEO of Vingroup. “The follow-on investment is a vote of confidence from our investors in our strong performance to date and our long-term vision for both Vincom Retail and Vietnam.”

The investment will help Vincom Retail further accelerate the build out of their malls as well as their broader retail platform, which includes VinMart, VinDS, VinFashion, and VinPro, on a national basis.

Vincom Retail, the largest shopping mall operator in Vietnam, currently has 20 malls in operation or under development. Its malls are home to more than 700 domestic and international brands, with major tenants such as Robins Department Store, Marks & Spencer, and CJ CGV, among others.

Warburg Pincus is a leading global private equity firm focused on growth investing, with more than $35 billion in assets under management. It made its first investment of $200 million to help build out Vincom Retail in May 2013.

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