Key facts
- Blackstone, CVC Capital Partners, and MUFG are among the bidders for a stake in Vietnamese fintech firm MoMo.
- Binding bids are due in September.
- The potential sale involves a stake of up to 50% in MoMo.
- MoMo achieved full-year profitability in 2024 with a net profit of approximately $13.4 million.
- Morgan Stanley and Jefferies are advising on the sale process.
Blackstone, CVC Capital Partners, and MUFG are among the potential buyers vying for a stake in Vietnamese fintech firm MoMo, according to sources familiar with the matter. Binding bids are expected in September for what could be a partial sale of up to 50% of the company.
Morgan Stanley and Jefferies are reportedly advising on the transaction. The talks are currently in the due diligence phase, and there is no certainty that a deal will be finalized. The sale could provide an opportunity for some of MoMo's existing investors to divest part of their holdings.
MoMo, which began as an e-wallet and has expanded to offer a range of financial services including payments, investments, and insurance, serves over 30 million users. The company has been focusing on AI-powered financial tools. In 2024, MoMo achieved full-year profitability, reporting a net profit of 347.5 billion dong (approximately $13.4 million), a significant turnaround from the previous year's loss.