Banks Eyeing Stake in Vietnam Techcombank
BNP Paribas and KB Kookmin Bank are in talks to acquire a fifteen percent stake in Vietnam Techcombank. The potential deal could value the lender at around two billion dollars.
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BNP Paribas and KB Financial Group Inc's Kookmin Bank unit are in talks to acquire at least a 15% stake in Vietnam's Techcombank for about $2 billion, people familiar with the matter said on Wednesday. The potential transaction would give international lenders rare access to one of Southeast Asia's fastest-growing banking markets. Techcombank is seeking a valuation of roughly two times its book value, representing a 55% premium over its last closing price, according to the sources.