Published: April 30, 2010
The Oman Investment Fund buys into Vietnam’s Petrovietnam Insurance.
The Government of Oman has spent US$42.4mn buying a stake in a Vietnamese insurance company.
The deal is being completed through the government’s investment arm, the Oman Investment Fund, which is taking a 12.6% stake in Petrovietnam Insurance, insurance arm of Vietnam's state oil and gas group.
The deal will allow Petrovietnam to invest alongside the Oman Investment Fund in opportunities beyond Vietnam.
The vendor received financial advice on the sale from N.M. Rothschild & Sons, Horizon Capital Advisers and Petrovietnam Securities.
Petrovietnam is Vietnam's second-largest non-life insurance firm in terms of premiums.