Milbank LLP advised Vietnam-based Masan Group Corporation (“Masan”) on a US$350 million capital raising round for its consumer-retail platform The CrownX Corporation (“The CrownX”). TPG Capital, Abu Dhabi Investment Authority and SeaTown Holdings, a subsidiary of Temasek Holdings, participated in the round. Following the closing of the transaction, The CrownX is valued at US$8.2 billion.
Since its founding in 2020, The CrownX has received over US$1.5 billion from international investors such as Alibaba Group, Baring Private Equity Asia and SK Group.
“We are honored to have represented Masan in this very significant final capital raising round for The CrownX, which places it in a strong position to continue to ensure its dominance in the fast-growing Vietnamese consumer market” said Jacqueline Chan, partner in Milbank’s Singapore office.
The Singapore-based Milbank team was led by Ms. Chan. The team also included associates Min Kim, Stephanie Kam, Hua Chan and Edward Bentley.
Milbank regularly advises on market-shaping transactions that are diversifying and transforming the Vietnamese economy. In the past 12 months Milbank advised on Masan Group’s VND 2.5 trillion block trade and on back-to-back investments into Masan’s retail affiliates VCM Services and Trading and The CrownX.
