DaHui Advises on Major Bio-Ethanol Deal in Vietnam, Combined Entity Expected to List on NASDAQ

DaHui Lawyers recently advised International Media Acquisition Corp (sponsored by First Euro) on the negotiation and signing of a definitive merger agreement with the Vietnamese ethanol production company, Vietnam Biofuels Development Joint Stock Company and its affiliates (together, “VCI Biofuels”) to form a new entity that is expected to be named VI Energy and aims to list on the NASDAQ.

VCI Biofuels produces bio-ethanol with a focus on fuel applications, which offers excellent opportunities given the Vietnamese government’s mandate to blend ethanol into fuel. This transaction valued VCI biofuels at USD 1 billion.

DaHui provides a full range of legal services for domestic and international M&A matters as well as capital markets listings. This is one of several recent matters we have worked on in the rapidly developing Southeast Asia market and Vietnam specifically. Serving as deal counsel, our team was led by Julia Dai and Jonathan Pfister.

In 2023, DaHui advised J&T Express on its landmark RMB 1.183 billion deal to acquire e-commerce delivery company Fengwang.