1. News
April 7, 2021

SK Group acquires stake in VinCommerce for $410m

South Korean conglomerate SK Group has agreed to acquire a 16.3% stake in Vietnam-based retail chain VinCommerce.

South Korean conglomerate SK Group has agreed to acquire a 16.3% stake in Vietnam-based retail chain VinCommerce.

The $410m deal will give the conglomerate access to both the production and retail aspects of the food supply chain in Vietnam.

A retail affiliate of food major Masan Group, VinCommerce operates around 2,300 convenience stores and supermarkets in Vietnam and holds a share of around 50% in the country’s consumer retail sector.

SK Group South East Asia Investment representative director Woncheol Park said: “We believe VinCommerce will become the leading offline-to-online retailer in the near future.”

In December 2019, VinCommerce’s parent company Vingroup entered into an agreement with Masan Group, under which VinCommerce and its agriculture unit VinEco merged with Masan Consumer.

SK Group is South Korea’s leading family-owned conglomerate, focusing on energy, chemicals, telecommunications, semiconductors, logistics, and services.

It operates in more than 40 countries and consolidated revenues of $86bn last year.

Since 2018, SK Group has held a 9.5% stake in Masan Group and a 6.1% interest in Vingroup. It has also made small investments in other local companies after setting up an investment company in Vietnam.

The conglomerate said it plans to speed up investments in online and offline distribution, logistics and electronic payment in Vietnam through its strategic partnership with Masan Group.

Free Report

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.