Mizuho buys Vietcombank stake, builds corporate banking
Mizuho Corporate Bank is planning to buy a 15% stake in Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), after it enters into a capital and business alliance with the lender in the first quarter of next year.
The Japanese bank won a hard-fought bidding process that took four years and generated interest from about 60 potential investors. It clinched the deal by offering a heavy premium to Vietcombanks trading value, according to bankers working on the deal.
Mizuho bought 347.6m new shares from Mizuho for Dong34,000
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