SK to invest in Vietnam’s VinCommerce through 16% stake purchase
Photo by: SK Website
Related Stories
SK’s stake in VinCommerce
As per The Korea Herald, SK’s Southeast Asian investment division purchased a 16.3% share in VinCommerce, and this is worth KRW460 billion or $410 million. It was mentioned that this Vietnamese retailer giant is a subsidiary of Masan Group Corp. that operates convenience stores and supermarkets around Vietnam, which is at least 2,300 in number.
With this, Masan Group takes 50% of the country’s overall retail market. It was in December 2019 when Masan bought an 83.7% stake in VinCommerce owned by Vingroup, the nation’s biggest private conglomerate.
SK Group to acquire 16.26 per cent stake in VinCommerce 12:12 | 06/04/2021
Masan Group Corporation and SK Group today announced the signing of definitive agreements for SKâs acquisition of a 16.26 per cent stake in VinCommerce (VCM) for a total cash consideration of $410 million. The transaction values VCM at $2.5 billion.
VinMart supermarket chain of Masan has become a favoured destination for shoppers
As the leading players in their industry, Masan and SK share the same view on the explosive growth trajectory of Vietnamâs modern trade grocery retail (MT) scene.
Along with this, Vietnamâs MT market is expected to increase its share from 8 to 50 per cent of the retail landscape, making Vietnam the fastest-growing MT market in the Asia-Pacific region over the next decade.
Tuesday, April 06, 2021, 14:21 GMT+7
This supplied photo shows an employee checking goods at a shelf at a VinMart supermarket in Vietnam.
Vietnam s Masan Group Corporation and SK Group from South Korea on Tuesday announced the signing of definitive agreements for the latter s acquisition of a 16.26 percent stake in the former s VinCommerce for a total cash consideration of US$410 million.
The transaction values VinCommerce at $2.5 billion for 100 percent of its equity, the two sides said in a statement.
Masan and SK share the same view in Vietnam’s Modern Trade Grocery Retail (MT) explosive growth trajectory.
Vietnam’s MT market is expected to increase its share to 50 percent from eight percent of the retail landscape, making the country the fastest-growing MT market in the Asia-Pacific region over the next decade.
SK invests in Vietnam s VinCommerce
Posted : 2021-04-06 16:39
Updated : 2021-04-06 19:32
SK South East Asia Investment Managing Director Park Won-chul, right, and Vice President Kwon Hye-jo, left, pose with Masan Group CEO Danny Le on screen at SK s building in central Seoul, Tuesday, after signing a deal about SK s investment in Masan s retail unit, VinCommerce. Courtesy of SK
By Kim Bo-eun
SK Group said Tuesday its subsidiary in Southeast Asia has invested in Vietnam s top retailer, VinCommerce.
SK South East Asia Investment acquired 16.3 percent of the firm s shares for 460 billion won ($410 million), as part of a strategic partnership with its parent company, Masan Group, SK said.