S.Korea's SK Group buys 16.3% stake in Vietnam's VinCommerce for $410 mln

SK Telecom Co

06/04/2021 03:00

SEOUL, April 6 (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  MSN.HM , for $410 million. 
    SK Inc, formerly SK Holdings Co Ltd  034730.KS , as well as
battery maker SK Innovation  096770.KS , SK Telecom  017670.KS ,
world's second-largest memory chip maker SK Hynix  000660.KS 
and power generation firm SK E&S are participating in the deal
through an investment unit focused on Southeast Asia. 
    VinCommerce operates about 2,300 convenience stores and
supermarkets in Vietnam, with a roughly 50% market share in the
country's consumer retail sector, SK said.  
    SK plans to accelerate other investments in major strategic
interests such as online and offline distribution, logistics,
and electronic payment in Vietnam by utilizing its strategic
partnership with Masan Group, it said. 

 (Reporting by Joyce Lee; Editing by Shailesh Kuber)
 ((jungyoon.lee@tr.com; +82 2 6936 1467;))