The private equity arm of Standard Chartered on Tuesday announced that it has acquired a significant minority stake in a Vietnamese restaurant chain operator through an equity investment of US$35 million.
Mekong Capital purportedly invested $2.6 million in Golden Gate in 2008, and two years later started to partially sell off its holding, the Wall Street Journal said.
The deal marks Standard Chartered Private Equity’s first investment in Vietnam, the company said.
Nirukt Sapru, general director of Standard Chartered Vietnam, said the bank has reasserted its long-term commitment in Vietnam through the deal.
“Standard Chartered Private Equity is a suitable partner thanks to its region-wide network,” Golden Gate CEO, Dao The Vinh, said in a statement.
Standard Chartered Private Equity Limited is a private equity and venture capital arm of Standard Chartered specializing in investing in balance sheet restructuring, expansion and growth capital, acquisitions, and management buyouts.
The company has invested some $6 billion in 100 companies in markets where Standard Chartered operates.
Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!
Đăng ký: VietNam News