Sacombank completes deal with automaker

24/10/2007 -- 3:06 PM

HCM City (VNA) – Sacombank signed last week a strategic cooperation contract with local auto manufacturing company Truong Hai. It will acquire a stake in Truong Hai to become a major shareholder but details of that deal will be discussed later. The bank will provide loans to customers buying Truong Hai’s products. Truong Hai will transfer all its banking business to Sacombank and carry out all its transactions through the bank. Sacombank Securities, an affiliate of Sacombank, will become a listing consultant for Truong Hai, which plans to list no later than next June.-Enditem
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