SK group buys 16.3% stake of Vietnam’s largest retailer
VinCommerce operates about 2,300 convenience stores and supermarkets across Vietnam, accounting for 50% of the country's retail market share.
VinCommerce operates about 2,300 convenience stores and supermarkets across Vietnam, accounting for 50% of the country's retail market share.
Low interest rates could open up new opportunities for investors to take advantage of the cheap capital to buy shares and acquire new assets via M&A deals.
At a price of VND 48,000 (US$2.07) per share, Masan valued the company at US$46 million and price to earnings (P/E) multiple of 13x.
It is unclear whether the GIC-led consortium has fully withdrawn from VCM or transferred its stake to other investors.
Vingroup’s investment in the aviation industry could lead to a surplus in supply, while the group needs to focus its resources on the industrial and technology businesses.
In less than a month, Masan Consumer, a consumer business of major conglomerate Masan Group, has initiated two deals to take its businesses beyond the food and beverage sector.
Vingroup is now able to focus on its core businesses while Masan found its last piece of a puzzle to build an empire of consumer retail.
According to the agreement, Vingroup’s retail arm VinCommerce and its subsidiary VinEco would merge into Masan Consumer Holdings, the retail consumer business of Masan.