Mizuho to buy 15 pct of VCB for $567 mln

A unit of Mizuho Financial Group has agreed to buy a 15 percent stake in Bank for Foreign Trade of Vietnam - Vietcombank (HoSE: VCB), Vietnam's second-largest partly private bank by assets, for 11.8 trillion dong ($567.3 million), VCB said in a statement on Friday.

* Vietcombank says Mizuho to buy 15% stake for $570 million

The Hanoi-based lender and the Japanese bank have signed a contract under which Mizuho would buy 347.6 million shares of VCB for 34,000 dong ($1.6) a share.

Shares in VCB closed down 0.4 percent at 27,300 dong ($1.31) on Friday.

Reuters

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