Japan’s Nomura sells entire Vietnam stake to industrial developer PC1

Facilities in Nomura-Hai Phong Industrial Zone in Hai Phong city, northern Vietnam. Photo courtesy of NAIV.

Japan’s Nomura sells entire Vietnam stake to industrial developer PC1

By Nguyen Tuong

Tue, July 26, 2022 | 11:46 am GTM+7

Financial holding company Nomura has transferred its entire 70% stake in Nomura Asia Investment Vietnam (NAIV) to PC1, a domestic company engaged in power construction, energy and real estate investment.

Singapore-based NAIV is a 70-30 joint venture between Nomura and Japanese investment firm JAFCO. NAIV owns the Nomura-Hai Phong Industrial Zone in Hai Phong city, northern Vietnam’s logistics hub about two hours’ drive east of Hanoi.

The transaction, subject to regulatory approval, will enable PC1 to hold a 70% stake in the industrial zone. The Vietnamese industrial developer’s board of directors approved the deal Monday. The company expects its new holding will further drive its industrial investment plans across Vietnam.

The 153 hectares Nomura-Hai Phong Industrial Zone in An Duong District was set up in December 1994 as the first foreign-invested industrial zone in northern Vietnam.

Both Nomura and PC1 did not disclose the transaction price. Nomura said Monday it did not expect the divestment to have a material impact on its consolidated results.

https://theinvestor.vn/japans-nomura-sells-entire-vietnam-stake-to-industrial-developer-pc1