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.
With its recent mergers and acquisitions, private conglomerate Masan has unveiled plans to thoroughly dominate Vietnam’s online and offline retail markets. - VnExpress International
VIETNAM BUSINESS NEWS MAY 19 Chia sẻ | FaceBookTwitter Email Copy Link Copy link bài viết thành công
19/05/2021 10:50 GMT+7
Foodstuff prices rise, pose inflation threat
A supermarket in HCM City. With the costs of materials needed for foodstuffs rising, businesses are finding ways to cut costs so that they can keep prices steady. Photo nhandan.com.vn
Prices of foodstuffs have been increasing due to rising costs of raw materials.
Do Van Khuol, supply director of Saigon Food Company, said the cost of both domestically sourced and imported inputs have risen, including those of rice and seafood, whose output has fallen.
Tuesday, May 18, 2021, 14:30 GMT+7 This supplied photo displays Danny Le, CEO of Masan Group.
Masan Group Corporation and a consortium led by Alibaba Group and Baring Private Equity Asia (BPEA)
on Tuesday announced the signing of definitive agreements for the acquisition of a 5.5 percent stake in The CrownX for a total cash consideration of US$400 million.
The CrownX is Masan’s 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 percent of its equity, an equivalent of $93.5 per share.
Masan will own 80.2 percent of the company post the consortium’s investment.
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