Firms in the Spotlight Corporate and M&A
Our team of experts do not only have good legal backgrounds and skills but also have business mindset and strong ties to Mergers & Acquisitions (M&A) sector. We have been involved in several corporate transactions in the country, including M&A, de-mergers and re-structures.View Profile...
Corporate and M&A in Vietnam
Allen & Overy LLP
Allen & Overy LLP excels in high-value cross-border mergers and acquisitions and handles the full spectrum of corporate matters for an international client base. Led by Duc Tran, the practice has strength in the renewable power sector and advises a range of foreign investors on acquisitions. Tina LeDinh is a name for corporate transactions and acts for an array of major banks and private equity funds. Senior associate Hai Ha focuses on commercial and corporate mandates and is a core member of the team, which also leverages the strengths of its Hong Kong and Singapore offices.
‘A&O is one of the international law firms which ventured into the Vietnam market. Over the years, it has developed a lot experience in handling M&A and corporate finance projects in this unique market.’
‘Duc Tran, Hai Ha and Chau Uong were the team advising us on an M&A deal. They are very responsive and they have the necessary local knowledge to advise us how to deal with changing government practices.’
‘The team is excellent in M&A and corporate structuring.’
‘Tina Le Dinh is well versed in corporate structuring, contractual terms, negotiation. She is also able to advise us well on issues which we have concerns and highlight issues which we may not know well.’
- Advised KKR on its $650m investment in Vinhomes.
- Advised Pharmacity on its $31.8m Series C funding round.
- Advised Baring Private Equity Asia on its acquisition of a majority stake in Vietnam USA Society English Centres.
At Allens, the corporate practice remains a market leader in handling high-value and complex M&A deals across Southeast Asia for a global roster of clients. The team advises a range of blue-chip Vietnamese and international companies including international financial institutions and key private equity players. Practice head Linh Bui is the key transactional lawyer in the team along with Robert Fish. Associate Ngoc Anh Tran handles cross-border investment deals. In addition to its strengths in its home market of Australia, the firm has a broader global footprint thanks to its alliance with Linklaters LLP .
International Finance Corporation
Olympus Capital Asia
- Advised Temasek Holdings on its co-investment with KKR in VinHomes through acquisition of $650m worth of VinHomes shares.
- Advised Vietcombank on its entry into an exclusive 15-year bancassurance partnership with FWD.
- Advised TIKI Corporation – a leading e-commerce player in the Vietnamese market – on various tranches of its Series D fund raising from a range of both foreign and domestic investors.
VILAF continues to be a market leader in the Vietnamese M&A market, and has strength-in-depth in handling a number of high-value deals. The group receives instructions from multinational clients and advises on M&A matters across a broad range of industry segments. Dang Anh in Hanoi co-leads the practice along with Vo Ha Duyen in Ho Chi Minh City, which is considered the 'first port of call' for many large Vietnamese companies. Other practitioners include Nguyen Quang Hung in Hanoi, who is noted for inbound foreign investment matters, and Phong Tran who advises international project sponsors among others.
Other key lawyers:
Augusta Investment Limited
Berjaya Corporation Berhad
Minh Phu Seafood Joint Stock Company
Ngoc Nghia Industry-Services-Trading Joint Stock Company
B.Grimm Power Public Company
- Advised on Vingroup’s merger of Vincommerce retail chain business with Masan Group and back to back acquisition from GIC and Credit Suisse.
- Advised Augusta Investment Limited in relation to the acquisition of private business portfolio from SCB.
- We advised Energy Sources Investment Pte. Ltd in its acquisition of 100% stake in GA Power Pte. Ltd.
YKVN remains one of the pre-eminent firms in the Vietnamese market, with the corporate team covering complex cross-border M&A and restructurings, advising a host of global banks and investors. The practice group is managed by Truong Nhat Quang, and also in Ho Chi Minh City counsel Nguyen Van Hai supports on corporate transactions and has an expertise in the energy sector. Managing partner of the Hanoi office; Diep Hoai Nam is a key name for corporate restructuring matters for companies operating in the pharmaceutical industry, as is US-qualified specialist Eli Mazur.
Vingroup Joint Stock Company (Vingroup)
Masan Group Corporation (MSN)
Military Commercial Joint Stock Bank (Military Bank)
Credit Suisse Singapore Limited
Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank)
SoftBank Investment Advisers (UK) Limited
Central Pattana Public Company Limited
Mirae Asset-Naver Asia Growth Fund, and Eastbridge Partners
Newell Brands Inc.
- Advised Vingroup as lead counsel in relation to the sale of a 6.1% stake to SK Group.
- Acted as Vietnam counsel to Vingroup in relation to the $650m investment by a consortium led by U.S. private equity powerhouse KKR that includes Singapore’s State investor Temasek Holdings.
- Advised Masan Group Corporation (MSN) in its acquisition of the Vingroup’s retail and agriculture units – VinCommerce and VinEco through share swap.
Baker McKenzie's corporate team is overseen by Yee Chung Seck and Lan Phuong Nguyen and has expertise in handling high-value transactions across the Southeast Asian region. The practice group has considerable expertise across a wide range of sectors, including healthcare and technology, and acts for a range of investors and private equity fund sponsors. Managing partner Frederick Burke and Oanh Nguyen advise on foreign investment and financing matters.
‘Strong relationship with government and regulatory offices (i.e. EVN/ MOIT) in Vietnam.‘
UOB Venture Management
BW Industrial Pte. Ltd.
GreenYellow (Thailand) Co. Ltd.
Sunseap Group Pte.
Chery (Shanghai) Investment Co. Ltd.
- Represented the MISA Group in the completion of TA Associates’ minority investment in the company.
- Provided a range of services to UOB Venture Management Pte. Ltd. for its investment in Dat Viet VAC Group Holdings, a leading Vietnamese media investment agency.
- Worked on a total of eight deals with BWI in the past year, providing assistance in its acquisition of logistics-related assets in and out of industrial parks across Vietnam.
Independent firm Frasers Law Company has over two decades of experience in the Vietnamese market and advises clients on major cross-border transactions as well as handling day-to-day corporate advisory work. Mark Fraser leads the practice, which also includes key name Justin Gisz. Senior associates Ho Thuy Ngoc Tram and Pham Thanh Mai are also core members of the team, with practices crossing over this area and finance work.
Other key lawyers:
‘Mark Fraser is a very professional and reliable lawyer. He not only talks about risk but also gives precise advice and options to solve the problem.‘
‘The team members are international and has many international clients. Very kowledgeble in the regulation of foreign investment in Vietnam. The firm is a Vietnamese law firm so has many Vietnamese lawyers who is very talented and good English speaker.’
Mavene Invest Corp
Origin Energy Australia
PRGX Global, Inc.
EFG-Hermes UAE Limited
NVT Consulting Co., Ltd.
IPS International Polysacks GmbH
- Assisting FamilyMart Co. Ltd with a restructuring of its entire corporate group, including its Vietnam corporate and operational structure.
- Acting for Mavene Invest Corp in relation to a divestment of the entire issued share capital of a BVI-domiciled holding company.
- Advising VinaCapital in relation to the acquisition of a capital portfolio in e-commerce, intermediary payment, education technology and advertising services.
At Hogan Lovells International LLP, the corporate practice has a track record advising on cross-border deals and transactions for international clients. Managing partner Jeff Olson oversees the team which handles transactional work across the oil and gas, real estate and health care sectors, with the firm having particular strengths in work for US and European clients. Long Huynh and Eddie O’Shea are key senior associates in the practice.
‘Jeff Olson has outstanding knowledge and experience in corporate/M&A fields. His knowledge helps with dealing with projects that require local knowledge in Vietnam but also necessary information/advice to report to our executive management.’
Navis Capital Partner Ltd
Super Energy (East) Pte. Ltd.
- Acted as counsel to Synopsys Inc. in connection with its acquisition of certain IP assets of eSilicon, including the acquisition of 100% of the equity of eSilicon Vietnam.
- We advised Navis on its acquisition of Thanh Thanh Cong Education JSC (TTCE) in Vietnam.
- We are advising EDF Renewables on prospective acquisitions in Vietnam.
Mayer Brown's corporate practice has an 'unparalleled understanding of the Vietnamese market' and is led by David Harrison. The team handles M&A transactions across the Asian markets for foreign investors on top of work advising major banks. Senior associate Orsolya Szotyory-Grove remains a core member of the team, and counsel Hai Thao Nguyen main focus remains in real estate related merger work. Among other parts of the world, the practice has links to the firm's Tokyo team and long-standing connections to development finance institutions.
‘David Harrison and his team are professional, courteous, warm, honest, deal-makers and competent.’
‘Hands-on approach, results-oriented, people-driven practice, efficient
‘Mayer Brown International (MBI) team has an unparalleled understanding of the Vietnamese market and its regulatory environment. The firm provides a bridge between local practices that need to be improved to be able to operate under international standards.’
Hillhouse Capital Management Ltd
Standard Chartered Bank
San Miguel Foods, Inc
John Swire & Sons Pty Ltd.
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO)
DEG- Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG)
- Advised Guotai Junan, one of China’s leading securities companies, on a 51% acquisition in Vietnam Investment Securities Company.
- Acted for TR Capital on its investment in Pharmacity includingmits acquisition of convertible loans and secondary shares from existing shareholders, and its subscription for newly issued shares as the lead investor in the Series C funding round.
- Are advising DEG on a subscription for preference shares in Thanh Thanh Cong-Bien Hoa Joint Stock Company (TTC), one of Vietnam’s largest corporate groups.
Rajah & Tann LCT Lawyers' corporate group handles large transactions across industry sectors, with a strong regional footprint allowing it to seamlessly handle cross-border matters for a client base that includes key names from the business worlds in Japan and China as well as domestic businesses. Vu Thi Que heads the practice, which also includes new partner promotion Logan Leung, who advises on a range of international deals as part of a broad practice, and Tran Thi Phuong Thao. Regulatory expert Tran Xuan Chi Anh departed the firm.
‘The team’s professional capability in supporting us in making a serious investment in Vietnam was outstanding, in particular for the relevant legal review and necessary coordination with the governmental authorities. We were also in a serious difficulties and dispute with a local partner, which required deep involvement by the government, central and local. With the strong guidance and support of the LCT lawyers, we could survive. Otherwise we would have decided not to make the investment.’
- Acted for VinaCapital (through its VinaCapital Opportunity Fund) in its $21.4m investment in local packaging firm, Ngoc Nghia Group
- Acted for Givaudan in its acquisition of 100% stake in Golden Frog Flavours and Fragrance.
- Acted as Vietnam counsel to Mapletree Logistics Trust’s acquisition of two logistics properties in Vietnam, with a combined property value of U$36m.
At Tilleke & Gibbins, the corporate practice group advises large multinationals on market entry into Vietnam, mergers and acquisitions, and restructuring mandates. Thomas Treutler oversees the team and advises on an assortment of commercial issues and retains a focus on in life sciences and franchising work running in parallel with intellectual property issues. Vinh Quoc Nguyen and Hanoi-based Kien Trung Trinh are also key contacts, active in the pharmaceutical industry and with good connections in the public sector.
‘The Tilleke & Gibbins team is very knowledgeable, professional, and courteous. It was a pleasure to work with them and we knew we were in good hands and that we were getting the advice we needed.’
Everyone that we’ve worked with at Tilleke & Gibbins has been incredibly helpful and professional. We’ve worked most directly with Giang Thi Lan Nguyen. She has been very insightful in her advice and extremely responsive.
Team was great and professional.
The team is especially service oriented, prompt and quick to process our instructions.
Johnson & Johnson
Merck Sharp & Dohme
- Advised Carousell Pte Ltd with due diligence, documentation preparation, and filings in relation to its acquisition.
- Lead external counsel on all legal matters in Vietnam for Merck Sharp & Dohme (Asia) Ltd.
ACSV Legal's corporate practice has extensive expertise in handling a range of private equity transactions and restructuring matters. Headquartered in Ho Chi Minh City and led by English-qualified managing partner Mark Oakley, the team has a focus on foreign direct investment into Southeast Asia and advises clients across the healthcare, pharmaceutical, and technology sectors. Special counsel Hieu Pham is skilled in cross-border merger work and handles matters for large Vietnamese conglomerates. The team expanded its offering with the arrival of litigation expert Minh Nguyen last year.
Other key lawyers:
‘ACSV Legal team comprises high-calibre lawyers who have been trained in the US or UK. They have a can-do and business-oriented mindset. They can deliver excellent work results under tight deadlines, sometimes within 24 hours. Our company runs businesses in F&B sector and there are often sudden legal inquiries from commercial teams that require us to react quickly and provide immediate guidance. It is rare to see a firm in the market that can consistently meet our set deadlines but at the same time do not compromise the work quality.’
‘The lawyers are knowledgeable and responsive. They consistently achieve satisfying results using a combination of legal experience and creativity.’
‘Mark Oakley has a long-time experience in Vietnam and has advised so many and diverse deals that we are happy we can source from his experience. Also, the fact that he has been advising us (with his team) for a long time is really helpful in getting and being prepared for such a big step as selling the company. Mark advises us on what is possible and whatnot, and how we can realise our plans. He can do this based on his long-term experience not only in Vietnam but also in other countries and (in Singapore, the UK and the Middle East) as well his thorough knowledge of our company.’
‘Hieu Pham has a good overview of our business and is well aware what the impact of a decision is. He has a good commercial view as well as legal eye for matters we worked on. He has not as much experience as Mark, but he is very creative in the legal advice provided (of course all within the legal limits). He comes up with solutions that we believe would not have been provided by other lawyers, not even at the big international law firms in Vietnam.’
‘A high-skilled and dedicated team with strong knowledge in mostly concerned matters.’
‘Every single team member has their own unique selling points that make me comfortable and quite satisfied with the results. They put themselves on client’s site to catch up with the big picture before jumping into the details.’
- Advised an e-commerce services and distribution company on the restructuring of the entire company to resolve internal foreign loans and to call for more investment capital with a view to achieving greater efficiency.
- Advised an international merchant bank that bought up to 35% value of an entity active in a conditional sector, being a leading textbook publication company in Vietnam and acquired shares from a Thai subsidiary from the same company on all relevant agreements and the due diligence.
- Advised the shareholders, including the founders, of Vietnam’s leading packaged snack food manufacturer and distributor on the intended exit of their investment and transfer the business to one or more buyers.
Newly-ranked Bizlink Lawyers handles a large number of high-value domestic and international transactions for clients across the real estate and construction sector. Jointly led by Le Thi Hong and Tran Thi Ngan in Hanoi, the practice group handles cross-border investment matters including multi-million-dollar acquisition deals for large Vietnamese conglomerates and foreign companies. The team has experience of regional deals flowing from Singapore and Hong Kong.
An Phuoc Import Export And Production Development Investment Joint Stock Company
An Gia Phat Jsc.
Apollo Education Pte. Ltd.
Aroma Beverage Joint Stock Company
Ausviet Industrial Investments (Singapore) Pte Ltd.
Bao Viet Life Corporation
Chinfon Cement Corporation
Citra West Lake City Development Co., Ltd.
Doosun Vietnam Company Limited
Doosungtech Vietnam Company Limited
Gamuda Land Vietnam Ltd.
International Centre Ltd.
Jupiter – Pacific Forwarding Joint Stock Company
Jupiter Logistics Vietnam JSC
Kato Metals (Vietnam) Company Limited
Shinsung Vina Company Limited
Siae Microelettronica S.p.A.
Siae Microelettronica South East Asia Co., Ltd
Singapore Embassy in Hanoi
- Assisted VietinBank on an M&A deal concerning a $482m building project.
- Acted for Shinhan Investment Corporation on the purchase of a 5-star hotel in Da Nang valued at over $40m.
- Acted for Citra West Lake City Development Company Limited (a Singapore-Vietnam joint venture) on a M&A deal concerning a commercial complex valued at $75m.
DFDL Legal & Tax has sector strength across the telecoms, real estate, and energy industries, handling local and international deals. Led by Jérôme Buzenet in Ho Chi Minh City, the team handles a variety of work including private and public M&A, private equity investments and investment fund matters for both domestic and foreign clients, with strong connections in Vietnam's key emerging market neighbours. Tran Thi Vu Hanh advises on corporate matters across Vietnam and Cambodia and is recommended for project finance work concerning those jurisdictions.
Other key lawyers:
Westlake Group and Resinoplast Vietnam
SoftBank Vision Fund
NewQuest Capital Partners
CMC Capital Partners HK Limited
B. Grimm Power Public Company Limited
BG Container Glass Public Company Limited (BGC)
American International Group (AIG)
- Advised B. Grimm Power Public Company Limited on its acquisition of an 80% stake in the greenfield 257 MW Hoa Hoi solar project in Phu Yen Province, Vietnam.
- Assisted SoftBank Vision Fund on the proposed transfer of ownership interest in a ride-hailing platform.
- Advised NewQuest Capital Partners on the restructuring and acquisition of a substantial minority interest in a portfolio company.
The corporate group at Duane Morris Vietnam LLC has a proven track record on handling transactions and merger work for clients across the project finance, energy, and infrastructure sector. Jointly led out of Hanoi by Giles Cooper and Oliver Massmann, the practice advises foreign investors on Vietnamese M&A deals and other inbound investment into the country. Lateral hire Lang Thi Nguyen, who joined from Frasers Law Company, is another key name for corporate and commercial work whilst special counsel Bach Duong Pham has a range of expertise, including securities law.
Advantage Partners Asia Fund
Bootstrapper Pte. Ltd.
Vietnam Joint-Stock Commercial Bank for Industry and Trade (Vietinbank)
Yellow Star Investment 22 Pte Ltd
Kim Tin Group Corporation
CCL International Inc.
Hong Hoang Investment and Trading JSC
Mitsui & Co
- Advising Bootstrapper Pte Ltd on 100% acquisition of two project vehicles incorporated in Quang Tri, Vietnam with rights to develop 2 x 50MW solar power plants.
ZICO Law handles a range of domestic and international transactions across the corporate space with particular expertise in the renewable energy, real estate, and construction areas. The practice is jointly led by Phuong Nguyen in Hanoi, Kevin Hawkins, and Tay Zi Li, and handles cross-border transactions and foreign investment matters for Japanese clients. The team has a strong Mandarin language offering that has attracted Chinese clients.
Hong Kong Land
Redefine Capital Management Company Limited, a company wholly owned by Electronic World Trade Platform (eWTP)
Strategic Year Holdings Limited
Maxims Caterer Vietnam
UOL Group Limited
- Advising Hongkong Land Ltd. regarding a mixed-use project comprising luxury residences as well as commercial component in Thu Thiem District of Ho Chi Minh City.
- Advising Redefine Capital Management Company Limited on two proposed M&A transactions in Vietnam with a Vietnamese target company and a Singaporean company.
Boutique firm Dilinh Legal handles merger and acquisition matters for clients operating in the luxury retail, energy, and financial space. Michael Lee and Diep Hoang are the key contacts, who advise clients on restructuring, refinancing, and other commercial law matters. Former practice head Thao Nguyen departed the firm to join LNT & Partners.
‘Dilinh Legal is very quick and responsible and but very detailed in analysis.’
‘A strong mix of local and overseas professionals with long tenures in the local market.’
‘What makes this practice unique is the team’s strengths and key capabilities in which Dilinh has a professional working style to provide for clients the valuable legal advice, extensive experience as well as in-depth knowledge of Vietnamese law. The team was mastering in providing the legal advice of such M&A deals. we cooperate quite effectively and close the deal in a very short time as possible. The partner has solid expertise and commercial mindset. She truly protects the clients and represents their best interests.’
‘Work efficiently and quick response to my requests.’
Lazada Vietnam (including Recess Co. Ltd and Flex Speed Delivery Limited – subsidiaries the Lazada Group)
Phu Hung Group (Phu Hung Securities, Phu Hung Fund Management Company, Phu Hung Life Insurance, Phu Hung Assurance and other subsidiaries of the Group)
Vina ASC Automotive Company Limited
Union Underwear (aka Fruit of the Loom)
Jones & Vining (Vietnam) Company Limited
Morrison & Foerster
Morgan Lewis & Bockius LLP
Gio Thanh Energy Joint Stock Company
- Advised Gio Thanh Energy Joint Stock Company on the sale of two 50 MWP solar power projects.
- Advised Top Glove on the establishment of its US$70m factory in Vietnam.
- Advised Vina ASC on the establishment of Vietnam’s first Ferrari car dealership and service center.
DIMAC advises financial organizations, multinational corporations, and large domestic corporations on corporate matters. Practice head Le Thanh Tung in Hanoi focuses on foreign investment and compliance matters whereas Nguyen Danh Cong in Ho Chi Minh City handles real-estate-related merger work. Former partner Bui Tien Long left the team in May 2020 to form Likon Law Co., Ltd .
‘Le Thanh Tung. Tung is the most inspiring lawyer that I ever know, he is very committed to his clients to provide any solutions to overcome our challenges. He is very composed and knowledgeable to provide advice for us. I have recommended to most of my friends that wanted to start a business in Vietnam to look for him. He is an asset to DIMAC’
‘Team is professional, knowledgeable, supportive, and responsive.’
EPLegal Limited has sector strength across the oil, gas, and energy industry and handles local and cross-border transactions for clients in this space. Tony Nguyen and Annie Ngo oversee the practice, which has a track record in handling large energy-related acquisitions, joint venture matters, and conducting due diligence.
- Advising Sumitomo on a potential deal concerning an upstream project.
- Advising PVGas on the investment in upstream projects in domestic and foreign jurisdictions.
Nagashima Ohno & Tsunematsu handles corporate matters for number of the elite names of the Japanese business community in Vietnam, and is co-led by Motohisa Nakagawa in Ho Chi Minh City and Keigo Sawayama in Hanoi. The group handles the management of various joint ventures and its subsidiaries for clients. Foreign registered attorney Tran Thi Thu Thao in Hanoi is a core member of the practice.
Other key lawyers:
Aica Asia Laminates Holding Co., Ltd
UT Group Co., Ltd.
Osaka Gas Co., Ltd.
SBI BITS Co., Ltd.
TEPCO Power Grid, Incorporated
SBI Holdings, Inc.
- Provided advice to Aica Asia Laminates Holding Co., Ltd concerning its investment in a group of companies established by an individual seller in Vietnam.
- Advised UT Group Co., Ltd. in relation to the purchase of 51% of the shares of Green Speed Joint Stock Company, which operates a labour dispatch business.
- Advised TEPCO on an investment in an electricity distribution business in an industry park in Hai Phuong through acquiring 50% interest in a Hong Kong company.
Nishimura & Asahi
Nishimura & Asahi's Vietnamese offering focusses on providing M&A and broader corporate law advice to Japanese companies doing business in Kazuhide Ohya leads the Ho Chi Minh City office where Ha Hoang Loc is another key, locally-qualified, name. Taro Hirosawa leads the Hanoi office and advises on foreign investments and cross-border deals.
‘They have understood our business model and strategy very well, so they can provide high quality advice that matches the nature of our business. Nishimura & Asahi can provide professional service for a wide range in category and geography under one roof.’
‘They have understood our business strategy very well and provides high-quality advice that matches the nature of the business.‘
Mitsui & Co., Ltd.
Yamato Kogyo Co., Ltd
Stripe International Inc.
Pacific Petroleum Import Export Trading Joint Stock Company and Mr. Nguyen Thanh Tung
Japan South East Asia Growth Fund L.P. (a fund of Development Bank of Japan and Risa Partners Inc.) and JTOWER Inc.
- Advised Mitsui & Co., Ltd. on its acquisition of a 35.1% stake in Vietnam’s Minh Phu Seafood Joint Stock Company.
- Advised Yamato Kogyo Co., Ltd. on its agreement to acquire a 49% stake in Posco SS Vina Joint Stock Co., a steel products manufacturer based in Vietnam, from South Korea’s Posco.
- Advised Stripe International Inc., a Japanese fashion group, on its acquisition of a 70% stake in Global Fashion Trading Corp., a major retailer of shoes and bags in Vietnam.
Venture North Law Limited
The corporate practice at boutique firm Venture North Law Limited is jointly led by Hanoi=based Nguyen Quang Vu and Ha Thi Dung. The team advises domestic and foreign investors on M&A transactions in Vietnam including large corporations and Vietnamese businesses; Dung also has a number of Japanese clients and is recommended by international law firms for referrals.