JB Financial Group Acquires Vietnam-based Morgan Stanley Gateway Securities (2020.04)

JB Financial Group, A Korean banking group, has acquired 100% stake in a Vietnam-based brokerage from Morgan Stanley at a value of $16.1M USD. The deal value amounts to around 1.05 times the equity capital of Morgan Stanley Gateway Securities, $15.3M USD. The acquisition will allow JB Financial Group to provide Korean investors a gateway to invest in real estate and infrastructure development in Vietnam, highlighting continued interest in Vietnam amid the coronavirus pandemic.