Vingroup's main foreign investor SK Group to sell part of its stake (updated)

SK

10/01/2025 12:24

(Adds SK's sale of Masan, Vingroup debt from paragraph 4)
       HANOI, Jan 10 (Reuters) - South Korean conglomerate SK
Group plans to sell about a fifth of its holding in Vietnam's
Vingroup  VIC.HM  starting from next week, a Vingroup filing
showed on Friday.
     With a 6.05% stake, SK's group financial vehicle SK
Investment Vina II PTE is currently the top foreign investor in
the Vietnamese group, whose businesses range from property and
shopping malls to electric vehicles. After the sale, SK will
hold 4.72% of the total shares and is no longer a major
shareholder. 
    The transaction, which is carried out on the purpose of SK's
restructuring portfolio, is expected to be completed by Feb. 14,
according to the filing. The sale is estimated to generate 
about 508 billion dong ($20.03 million) based on current market
price, it said. 
    Last November, SK completed its sale of around 76 million of
its shares in Vietnam's Masan group for $200 million. 
    "SK and Vingroup are still discussing a number of
cooperation opportunities to maximize development potential in
the coming time," Nguyen Viet Quang, Vingroup's general
director, said in a separate statement.
    SK did not immediately respond to a request for comment.  
    Vingroup has in recent years been weighed down by losses at
VinFast  VFS.O , an electric car maker it controls. 
    On Monday, rating agency Fitch said its rating of Vinhomes
 VHM.HM , Vietnam's leading real estate firm and a unit of
Vingroup, "was constrained by Vingroup's consolidated profile
with high leverage".
    Moody's issued a similar assessment of Vinhomes on Monday.  

    
    
($1 = 25,360.0000 dong)

 (Reporting by Phuong Nguyen and Francesco Guarascio; Editing by
Martin Petty and Tomasz Janowski)
 ((Phuong.Nguyen@thomsonreuters.com; +84-24-3852-9623;))