South Korea's SK Group may sell some Southeast Asia assets
26/12/2022 01:30
SEOUL, Dec 26 (Reuters) - South Korea's second-largest
conglomerate SK Group 034730.KS said on Monday it is
considering selling some of its assets in Southeast Asia and
reinvesting in other businesses in countries in the region,
including Vietnam.
An SK Group spokesperson said in a statement the
conglomerate plans to decide which assets to potentially sell
depending on buyers' offers, and is considering reinvesting some
of the proceeds from any stake sales in local firms. The
statement didn't disclose details of which assets might be sold.
The comments came after South Korean newspaper the Korea
Economic Daily reported SK's plans late on Sunday citing unnamed
investment banking sources.
Assets held by SK Group's Southeast Asia investment firm
that could be sold, according to the paper, include stakes in
Vietnam's Vingroup VIC.HM , Masan Group MSN.HM , retail
pharmacy chain Pharmacity, retailer VinCommerce and consumer
retail platform The Crown X.
It also has a stake in Malaysian fintech company Big Pay,
the paper said.
(Reporting by Joyce Lee; Editing by Kenneth Maxwell)
((joyce.lee@tr.com;))