VinaCapital owns 100pc stake in VinaProjects

July 05, 2012 | 09:14

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VinaCapital has completed acquisition of 50 per cent stake in VinaProjects Joint Venture Company from inProjects Group, a Hong Kong-based property service provider, to put VinaProjects wholly under its umbrella.

Accordingly, VinaCapital from May 15 has held full ownership over VinaProjects and continued to maintain strategic relationship with inProjects Group.

Matt Flectcher, general director of inProjects Group, said in a statement that offloading stake in VinaProjects is part of the company’s general strategy, focusing on key services and sectors with rapid growths in Vietnam.

Don Lam, general director of VinaCapital, said the fund manger will maintain partnership with inProjects Group so that they can join biddings for projects in Vietnam and Indochina together.

Established in 2009, VinaProjects is a joint venture between VinaCapital and inProjects Group. It offers professional project and construction management, urban planning and facilities management services to the local market.

VinaCapital is a fund and investment manager in Vietnam with funds under its management in excess of $1.7 billion. It manages three closed-end funds, focusing on stocks, private enterprises, real estate and infrastructure.

SaigonTimes

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