Vietnam

About

White & Case has been advising on Vietnam-related matters for more than 30 years.

Our involvement with Vietnam developed in the 1990s, having represented the World Bank and the Government of Vietnam on a legal framework for equitizing Vietnamese state enterprises and modernizing its economy. Since then, we have been active in Vietnam advising on high-profile cross-border transactions leveraging on the collective knowledge and resources of our lawyers across our global network of offices.

Versatile track record and breadth of offering

Our work ranges from corporate M&A transactions, disputes and trade advisory, to the development and financing of energy and infrastructure projects, debt financings and asset finance transactions.

Our clients include the world's largest corporates, financial institutions and leading domestic and international private equity houses.

AWARDS & RECOGNITION

Named as "Spotlight Firm" for Corporate & Finance in Vietnam
Chambers Asia-Pacific 2024

Ranked Tier 2 for Vietnam: Foreign Desk
Legal 500 Asia Pacific 2024

"White & Case is committed to delivering optimal commercial outcomes for clients whilst being level-headed enough to recognize that concessions may be required to get the deal done for the other side."
Legal 500 Asia Pacific 2024

"Their ability to appreciate the complexity of the transaction, assess the risks and consider commercial solutions is second to none."

"They are very hands-on and master the relevant aspects of the deal. Certainly, one cannot doubt their resourceful team, ranging from the junior to most senior level."
Chambers Asia-Pacific 2024

"White & Case Pte. Ltd. has a well-established presence in Vietnam and is involved in cross-border M&A, banking and financing, and trade mandates across a variety sectors, including consumer goods, renewables, real estate and education."
Legal 500 Asia Pacific 2023

Experience

Debt Finance

ADB
Representation of ADB in a loan of approximately US$100 million to China Everbright Environmental Energy to finance a portfolio of waste-to-energy projects in Vietnam.

BBAM Aircraft Management LP
Representation of BBAM Aircraft Management LP as lease manager in respect of lease and loan defaults and enforcement of certain aircraft leases.

Cathay United Bank
Representation of Cathay United Bank and a syndicate of 11 banks in the US$280 million loan facility to PetroVietnam Gas for the first phase of the Nam Con Son gas pipeline project No. 2 in Vietnam.

Vietnamese consumer products
Representation of a Philippines bank on the financing of a PE sponsor's investment in an exchangeable note issued by a Vietnamese food company.

Vietnamese mixed use real estate
Representation of a global investment bank on the financing of a PE sponsor's investment in a bond and convertible bond issued by a Vietnamese real estate developer.

Vietnamese real estate operator
Representation of a global investment bank on a US$25 million exchangeable loan agreement to be provided to a Vietnamese borrower group with significant industrial real estate company with operations throughout Vietnam.

Vietnamese integrated hotel and casino
Representation of the arranger on the sponsor-backed acquisition financing of a Vietnamese integrated hotel and casino and subsequent refinancing of the group.

Vietnamese logistics and industrial real estate developer
Representation of a global investment bank as mandated lead arranger and original lender on a US$125 million term loan facility with an additional US$125 million accordion facility to a subsidiary of one of the largest logistics and industrial real estate developers in Vietnam.

Vietnamese consumer goods company
Representation of the arranger on a sponsor backed senior secured bridge facility to fund the subscription for exchangeable bonds issued by a Vietnamese consumer goods company.

M&A/Corporate

AES Corporation
Representation of AES Corporation on the sale of its carbon credit emissions businesses in Southeast Asia including Vietnam.

A Vietnamese energy company
Representation of a Vietnamese energy company on the sale of a minority stake in a company holding renewable energy assets in Vietnam.

Casino Guichard-Perrachon
Representation of Casino Guichard-Perrachon, one of the major French retail groups (listed on Euronext Paris), in its €1 billion sale of Big C Vietnam (Vietnam's no.1 food retailer) to Central Group (a Thai conglomerate).

ESR Singapore Pte Ltd.
Representation of ESR Singapore Pte Ltd. on its US$208 million investment in BW Industrial, one of the largest logistics and industrial real estate developers in Vietnam.

Facebook
Representation of Facebook in a range of Vietnam-related matters.

Haier Group
Representation of Haier Group on the acquisition of Sanyo Electric Co., Ltd.'s washing machine, refrigerator and other consumer electric appliance businesses in Asia, including Vietnam.

Hanoi-Haiphong Expressway, Vietnam
Representation of a client on its investment into the concessionaire vehicle for the Hanoi-Haiphong Expressway, Vietnam.

Institute for Energy Economics and Financial Analysis
Representation of the Institute for Energy Economics and Financial Analysis in various market-entry considerations and structures in respect of Vietnam.

International developers
Representation of various international developers on their entry into the Vietnam solar and wind sectors including extensive country entry-market due diligence, and the negotiation of joint development arrangements in respect of their first projects.

Pacific Century Group
Representation of Pacific Century Group on its acquisition of a majority stake in AmTrust Mobile Solutions Singapore Pte. Ltd., a business that primarily offers mobile handset insurance solutions in Vietnam as well as in a number of other countries in Southeast Asia.

TNK-BP
Representation of TNK-BP on its acquisition of BP's upstream businesses and associated interests in Vietnam and Venezuela for US$1.8 billion.

Vietnamese International School
Representation of a leading global private equity sponsor on its proposed acquisition of 100% of a private international school based in Ho Chi Minh City, Vietnam.

Vietnamese International School
Representation of a leading global private equity sponsor on its investments in the education sector in Vietnam, including the acquisition of shares in European International School, Ho Chi Minh City, Vietnam.

VinaCapital
Representation of VinaCapital on a joint venture between VinaCapital and a Thai conglomerate to establish a co-investment platform for private equity investments in Vietnam.

Waste management facility in Vietnam
Representation of a multilateral lender in a proposed investment in a waste management facility in Vietnam.

ASEAN Alliance Ltd.
Representation of ASEAN Alliance, a joint venture company being formed by VinaCapital Investment Management, Batavia Prosperindo Group and Finansa PCL in connection with the establishment of an ASEAN-focused private equity fund.

A leading global financial sponsor
Representation of a leading global financial sponsor on its co-investment with a sovereign wealth fund into The CrownX, the integrated consumer retail platform  of Vietnamese conglomerate Masan Group.

Project Development and Finance

An offshore wind project in Vietnam
Representation of a confidential developer in the development of an offshore wind project in Vietnam.

Dakdrinh hydroelectric power
Representation of Crédit Agricole in the US$178 million financing, guaranteed by NEXI, to the Dakdrinh Hydropower Plant for the US$220 million development of the 125 MW Dakdrinh hydroelectric power project near Son Tay, Vietnam.

LNG-to-power project in Vietnam
Representation of a confidential investor in connection with its prospective acquisition of an equity interest in an integrated LNG-to-power project in Vietnam.

Song Hau 2, a 2x1,000 MW
Representation of a confidential investor in its interest in Song Hau 2, a 2x1,000 MW ultra-supercritical coal-fired power project development in Vietnam.

Disputes and International Arbitration

A Korean private equity & venture
Representation of a Korean private equity & venture capital firm in a post-M&A SIAC arbitration against a content provider in Vietnam. The claims arose out of breaches of misrepresentations, warranties and covenants by the seller in a PE M&A transaction.

Oil and petrochemical refinery
Representation of a contractor consortium in a US$1.5 billion SIAC arbitration relating to the construction of an oil and petrochemical refinery in South East Asia.

Restructuring

Sampoerna International
Representation of Sampoerna International in the restructuring of its existing joint venture in connection with the sale of a majority stake to Vinataba, the Vietnamese state-owned tobacco monopoly, a complex transaction that involved the transfer of the equity interest in an existing joint venture from one Vietnamese party to Vinataba, and the restructuring and recapitalization of the existing joint venture.

Aircraft Refinance
Restructuring of financings for four A320 aircraft following insolvency of the initial sublessee and introduction of replacement subleases.

Vietnamese educational assets
Representation of the arranger on the recapitalization of Vietnamese educational assets by a private equity sponsor.

Vietnamese mixed use real estate
Representation of a global investment bank on the restructuring of the back leverage financing provided to fund a PE sponsor's interest in convertible and non-convertible bonds issued by a real estate group.

Trade

A leading global US-listed e-commerce company
Representation of a global US-listed e-commerce company in a variety of trade requirements in respect of Vietnam, including origin and marking requirements under Vietnamese law related to the phrase "Made in Vietnam" and related legislation.

A Japanese trade coalition
Representation of a Japanese trade coalition in connection with expert analyses and a detailed report on strengthening of global value and supply chains through the utilization of trade agreements in the Asia- Pacific, including Vietnam.

A leading Korean trade coalition
Representation of a leading Korean trade coalition in connection with research and analysis on trade rules and business environment risks in Vietnam, Indonesia and India.

A leading national steel company
Representation of a leading national steel company in connection with legal analysis and advice on non-tariff barriers, trade remedies and FTA negotiations in the 12 jurisdictions in Asia-Pacific, including Vietnam.

Daklak Honey
Representation of Daklak Honey, one of the largest Vietnamese producers and exporters of raw honey, in a US Department of Commerce antidumping duty investigation of raw honey imports from Vietnam.

Ministry of Economy, Trade and Industry of Japan (METI)
Representation of the Ministry of Economy, Trade and Industry of Japan (METI) in connection with research and analysis on global trends of standardization and policy movements in key jurisdictions in the EU, the US, China and Vietnam.