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Freshfields advises Prudential on US$151m sale of Prudential Vietnam Finance

Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Prudential Holdings Limited (‘Prudential’), a subsidiary of Prudential plc, on its US$151m auction sale of 100 per cent of Prudential Vietnam Finance Company Limited (‘Prudential Vietnam Finance’), a Vietnam-based consumer finance business, for US$151m.  The purchaser is Shinhan Card Co. Ltd., a subsidiary of the Shinhan Financial Group (a leading Korean financial institution), and the sale is subject to regulatory approvals.

Prudential and Shinhan have also agreed a new long-term bancassurance partnership in Vietnam and Indonesia in connection with the sale.

Prudential Vietnam Finance was launched in 2006 as the first foreign, non-bank financial institution licensed for consumer finance lending in Vietnam.  Today it is the fourth-largest consumer finance company by outstanding loan balance.

The Freshfields team advising on the deal was led by Hong Kong partner Edward Freeman.


Notes for editors

About Freshfields Bruckhaus Deringer

Freshfields Bruckhaus Deringer LLP is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on ground-breaking and business-critical mandates. Our 2,800 plus lawyers deliver results worldwide through our own offices and alongside leading local firms.  Our commitment, local and multi-national expertise and business know-how means our clients rely on us when it matters most.