Asset-light restructuring in Vietnam

VinFast Auto announced a proposed restructuring of VinFast Trading and Production JSC (VFTP), under which assets and business activities relating to VinFast’s global R&D, intellectual property, after-sales operations and sales businesses will be split into a new Vietnam-incorporated entity, expected to be named VinFast Vietnam JSC (VFVN). VFVN will remain under VinFast’s control, while VFTP will retain the Vietnam manufacturing business and related assets and liabilities. Following the split, VinFast intends to sell all of its ordinary shares in VFTP to a purchaser group led by Future Investment Research and Development JSC and other minority investors including VinFast CEO Pham Nhat Vuong. The purchase price is c $530m, based on the boo...