South Korea’s SK Group buys 16.3% stake in Vietnam’s VinCommerce for $410 million – Latest News
South Korea’s third-largest conglomerate, SK Group, stated on Tuesday it has agreed to accumulate a 16.3% stake in Vietnam’s VinCommerce, a retail affiliate of Masan Group, for $410 million.
SK Inc, previously SK Holdings Co Ltd, in addition to battery maker SK Innovation, SK Telecom, world’s second-largest reminiscence chip maker SK Hynix and energy era agency SK E&S are collaborating within the deal by way of an funding unit centered on Southeast Asia.
VinCommerce operates about 2,300 comfort shops and supermarkets in Vietnam, with a roughly 50% market share within the nation’s shopper retail sector, SK stated.
SK plans to speed up different investments in main strategic pursuits comparable to on-line and offline distribution, logistics, and digital fee in Vietnam by using its strategic partnership with Masan Group, it stated.
