swiss-re-buys-stake-in-vietnamese-firm

Swiss Re buys stake in Vietnamese firm

The global reinsurance company spends $79 million to acquire 25% of VinaRe, forging a technical alliance with Vietnam's only reinsurance firm.
January 08, 2008
Swiss Re will buy a 25% stake in Vietnamese reinsurance provider, Vietnam National Reinsurance Corporation VinaRe, for Vnd1.3 trillion $79 million.

VinaRe will issue Swiss Re 16.8 million new shares at a price of Vnd75,000 per share. The price represents a premium to the Vnd62,000 that VinaRe traded at yesterday but is close to the high that the shares have traded at over the past 12 months.

Rothschild and Horizon Capital Advisers ran an auction on behalf of VinaRe to induct a financial cum strategic investor. A number of bidders were in the running given the uniqueness of the opportunity and the interest that global majors have in Vietnam....
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222