Magic Circle law firm Clifford Chance and Allens have advised Netherlands-based consumer finance provider Home Credit Group on the 800-million-euro ($870 million) sale of its Vietnam business to Thailand’s Siam Commercial Bank, which was advised by Linklaters and Vilaf.

Home Credit Vietnam is Vietnam’s second-largest consumer finance company by market share, with more than 15 million customers.

The sale of the Vietnam business marks the latest Southeast divestment by Home Credit, which in 2022 offloaded its Philippines and Indonesian businesses to Japanese banking giant MUFG for $621 million. Clifford Chance advised Home Credit on that deal as well, while Nishimura & Asahi advised MUFG.

The Clifford Chance team was led by Hong Kong partner Emma Davies, with support from partners Zayed Al Jamil (tech and data separation) and Nicola Hemsley (international tax aspects).

The Linklaters team was led by partner Sutthipong Koohasaneh, with support from Matthew Middleditch, chairman of the global corporate practice.

The Vilaf team was led by chairperson Duyen Ha Vo and included partners Phong Tran, Tung Nguyen, and Lam Nguyen.