VND483 billion acquisition of a Vietnam logistics asset by Daiwa House Logistics Trust
Allen & Gledhill, as transaction counsel, advised Daiwa House Asset Management Asia Pte. Ltd, as manager of Daiwa House Logistics Trust (“DHLT”, and the manager of DHLT, “Manager”), on DHLT’s maiden acquisition in Vietnam. It is the acquisition of 100% of capital contribution in a target company owning a cold storage logistics facility with a net lettable area of 18,465 sqm and located in Tan Duc Industrial Park, Long An Province, Vietnam. The agreed property value for the purpose of this acquisition is VND483 billion (approximately S$26.5 million).
The transaction comprises multiple legal aspects under Singapore and Vietnam jurisdictions, including the property transfer through a share acquisition of a Vietnam-incorporated property holding company, the novation/transfer of shareholder loans extended to the target company from the seller to the buyer, capital markets regulations and merger filing clearance.
Advising the Manager were Partners Foong Yuen Ping and Victoria Leong from Allen & Gledhill’s Singapore office, and Managing Partner Oh Hsiu-Hau and Partner Tran Thi Phuong Thao from Allen & Gledhill (Vietnam).
