Clifford Chance and R&T Sok & Heng Law Office have advised an investor consortium on the $630 million sale of a 70 percent stake in Cambodian microfinance company PRASAC to Korea’s Kookmin Bank (KB) which was represented by Bae, Kim & Lee and DFDL Cambodia.
PRASAC is the leading microfinance deposit-taking institution, and among the top five largest financial institutions in Cambodia.
With this deal, KB becomes the majority shareholder, and intends on buying the remaining 30 percent to make PRASAC a wholly owned subsidiary.
The Clifford Chance team was led by partner Neeraj Budhwani.
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