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.
Cost questions over foreign IPO intents 08:00 | 28/05/2021
Nick Ainsworth - Chief marketing officer, Dragon Capital
As one of the largest conglomerates in the country, Masan is now making some big bets on its strategic approach towards the largest consumer ecosystem in Vietnam.Last week it said it was mulling over a potential initial public offering (IPO) for The CrownX â the integrated consumer retail arm that consolidates its interests in both Masan Consumer Holdings and VinCommerce.
Masanâs shares have roared to a high on the eve of Alibaba Groupâs reported interest to invest in The CrownX. On May 18, Masan and a consortium led by Alibaba and Baring Private Equity Asia announced the signing of definitive agreements for acquisition of 5.5 per cent in The CrownX for a total of $400 million.
Masan partners Phuc Long to develop Phuc Long Kiosks at VinMart+ stores nationwide 14:45 | 24/05/2021
Masan Group and Phuc Long will open Phuc Long Kiosks at VinMart+ stores
Phuc Long Heritage owns the Phuc Long brand, one of the leading tea and coffee brands in Vietnam. The purchase price of the transaction is $15 million.
As a part of the transaction, VinCommerce entered into a strategic cooperation agreement with Phuc Long to jointly develop Phuc Long Kiosks through a network of more than 2,200 VinMart+ stores nationwide. These Phuc Long Kiosks at VinMart+ will not only brings fresh and delicious tea and coffee drinks to 100 million Vietnamese consumers but also play an important part in converting each of the VinMart+ stores into a destination that satisfies the daily essential needs of consumers of all ages.
South Korean Conglomerate SK Group Ups Investment In Fast-Growing Vietnamese Market forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
1 Min Read
FILE PHOTO: The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji/File Photo
SEOUL (Reuters) - South Korea’s third-largest conglomerate, SK Group, said on Tuesday it has agreed to acquire a 16.3% stake in Vietnam’s VinCommerce, a retail affiliate of Masan Group, for $410 million.
SK Inc, formerly SK Holdings Co Ltd, as well as battery maker SK Innovation, SK Telecom, world’s second-largest memory chip maker SK Hynix and power generation firm SK E&S are participating in the deal through an investment unit focused on Southeast Asia.