South Korea's SK Group may sell some Southeast Asia assets -media (updated)
26/12/2022 07:53
(Adds SK official comment, recasts sourcing)
By Joyce Lee
SEOUL, Dec 26 (Reuters) - South Korea's second-largest
conglomerate SK Group 034730.KS is considering selling some of
its assets in Southeast Asia and reinvesting in other businesses
in countries in the region, including Vietnam, a South Korean
newspaper reported.
"We are considering some asset adjustments as part of
regular changes to our portfolio from time to time, but nothing
has been confirmed yet," an SK official said.
"Even if some assets are adjusted, we will use it to
reinvest in other growth areas in Vietnam."
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, South
Korean newspaper the Korea Economic Daily reported 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 and Angus
MacSwan)
((joyce.lee@tr.com;))