French bank BNP Paribas and South Korea's KB Kookmin Bank are each in talks to acquire at least a 15% stake in Vietnam's Techcombank as strategic investors, according to two people familiar with the matter. The deal could be worth up to $2 billion. If completed, it would give the banks access to Vietnam's fast-growing banking market and end Techcombank's long search for a foreign strategic partner. Techcombank is the third-largest private bank in Vietnam by total assets. The 15% stake, valued at about $2 billion, represents a premium of roughly 55% to the current market price. Techcombank's shares have fallen 9% year-to-date as of the 25th. KB Kookmin Bank said it does not comment on rumors or speculation. Spokespeople for Techcombank and BNP Paribas declined to comment.
BNP Paribas SABNP Paribas in talks to acquire 15% stake in Techcombank, expanding into Vietnam's banking market.
Techcombank receives strategic investment interest at a 55% premium, ending search for foreign partner.
