US$46.4 million subscription of shares in Himawari VNSC3 Pte Ltd by Toshin Development Co., Ltd.
Allen & Gledhill, as transaction counsel, advised Keppel Land (Saigon Centre) Limited (“KLSC”) and Krystal Investments Pte. Ltd. (“KIPL”), both subsidiaries of Keppel Ltd, on the issuance of shares to Toshin Development Co., Ltd. through Himawari VNSC3 Pte Ltd, for a total consideration of US$46.4 million.
KLSC and KIPL hold 68% and 16% respectively of the total equity interest in Keppel Land Watco-IV Company Limited and Keppel Land Watco-V Company Limited, who together hold the land use rights in respect of the Saigon Centre Phase 3 development located in District 1, Ho Chi Minh City, Vietnam, which is intended to be a mixed-use development.
Advising KLSC and KIPL was Managing Partner Oh Hsiu-Hau from Allen & Gledhill (Vietnam) and Partner Zhao Jiawei from Allen & Gledhill’s Singapore office.
