Foreign sector moves to takeover Vietnam property market

Financial and other detailed terms of the deal to acquire batdongsan.com.vn were not disclosed at the presser on October 3 in Hanoi announcing the acquisition, other than its clear PropertyGuru is acting as a front agent for the yet undisclosed true purchaser(s).

The deal, said Le Xuan Truong, executive director of batdongsan.com.vn, at the presser, is expected to improve access for the company to a wide range of property information for the company’s domestic and foreign customers.

It’s clear from what little is known about the transaction that San Francisco, US based TPG Capital is fronting a considerable chunk of the funds to close the deal as is Emtek based out of Indonesia.

TPG Capital is one of the largest private equity investment firms globally, focused on leveraged buyouts, growth capital and leveraged recapitalization investments in distressed companies and turnaround situations.