We are pleased to announce that DFDL is acting as Vietnam counsel for FazWaz, a proptech company based in Thailand, on its acquisition of Lifull Connect and its direct and indirect subsidiaries from Lifull Co., Ltd, a leading Japanese real estate marketplace operator.
Under the terms of the transaction, Lifull Connect was transferred from Lifull to Connect Next, a Singapore-based joint venture company newly established in December 2024. Following the transaction, Lifull retains a 55% ownership stake in Connect Next with 0% voting rights, while the founders of FazWaz hold the remaining 45% stake with 100% voting rights. This share transfer involved no cash consideration and will result in the exclusion of the Lifull Connect business from Lifull’s financial reporting to the Tokyo Stock Exchange.
This transaction positions FazWaz as one of the few PropTech companies with significant potential to transform the industry.
The DFDL team in Vietnam was led by Partner Jerome Buzenet and supported by Ngan Nguyen and Thao Nguyen in providing comprehensive legal support throughout the transaction.
