Consortium led by Alibaba completes the injection of $400 million into Masan 13:53 | 14/06/2021
Masan Group Corporation (HSX: MSN) today announced the completion of a private issuance of 5.5 per cent stake in The CrownX Corporation to a consortium led by Alibaba Group and Baring Private Equity Asia for a total cash consideration of $400 million.
Alibaba completes the injection of $400 million into Masan
The CrownX is Masanâs integrated consumer retail arm that consolidates its interests in Masan Consumer Holdings and VinCommerce. The transaction implies a pre-money valuation of $6.9 billion for 100 per cent of its equity, an equivalent of $93.5 per share. Masan now owns 80.2 per cent of the company. The signing of this transaction was first announced on May 18, 2021.