KKR, Temasek acquire minority stake in real estate developer Vinhomes

It was acquired for $907m (US$650m).

Temasek, as part of a consortium led by US private equity firm KKR, has acquired a minority stake in real estate developer Vinhomes for $907m (US$650m), according to an announcement.

The investment translates into a 6% equity stake in Vinhomes.

KKR is making the investment primarily from its Asian Fund III, whilst Vingroup will still hold a controlling stake in Vinhomes.

Credit Suisse Singapore acted as sole financial advisor to Vingroup.