Vilaf-Hong Duc is "extensively knowledgeable, has expertise and is innovative in providing advice on legal issues of Vietnam in relation to infrastructure projects", says a client. "The firm in particular has well-established experience in working with international law firms such as Clifford Chance and others in large-scale projects....
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Vilaf-Hong Duc is "extensively knowledgeable, has expertise and is innovative in providing advice on legal issues of Vietnam in relation to infrastructure projects", says a client. "The firm in particular has well-established experience in working with international law firms such as Clifford Chance and others in large-scale projects."
Dang Duong Anh is held in high regard by peers and clients alike: "Partner Dang Duong Anh has knowledge and expertise in relation to the international practice in infrastructure projects," says a client who "highly recommends" Dang Duong Anh.
The past year saw the firm advise the Chinese project sponsors in a joint venture with Vietnam National Coal - Mineral Industries Group in the development of Vinh Tan 1 2x600MW Coal Fired Power Plant on a BOT (build-operate-transfer) basis in Vietnam.
The complexity and significance of this project involved a government guarantee and undertaking secured from the beginning. The deal used a similar framework to the Phu My 2.2 and Phu My 3 Power Projects, which has been changed in many respects over the decade.
The firm also advised Kohlberg Kravis Roberts (KKR) in acquiring a $159 million 10% equity stake in Masan Consumer, a subsidiary of Ma San Group and one of Vietnam's largest private sector companies. This deal was Vietnam's largest private equity deal to date and KKR's first investment in Vietnam.
The transaction was filled with complexity in the structure of certain special options, exit rights and exchange rights, which require sophisticated structuring due to Vietnam's regulatory restrictions on corporate governance.
Another notable highlight was advising Citibank as arranger on its $450 million unsecured export credit financing provided to the PetroVietnam Nhon Trach 2 Power Project Company for the purchase of capital equipment from certain exporters. The deal is backed by the Ministry of Finance of Vietnam's guarantee and supported by Euler Hermes Kreditversicherungs-Aktiengesellschaft (Hermes) and Nippon Export and Investment Insurance (NEXI).
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