SK Group has decided to invest about 530 billion won (US$470 million) in Masan Group, one of the major business groups in Vietnam.
SK Group will purchase 109.9 million shares (about 10% stake) of Masan Group for US$470 million and is about to sign a contract.
The Masan Group is the seventh biggest business group in Vietnam in terms of market capitalization and its major business fields include food and beverage. The company is also involved in natural resource development projects, including tungsten mine development.
The group’s market capitalization is about 4.48 trillion won (US$ 3.7 million), and last year’s net profit was about 181.7 billion won (US$ 151.4 million).
SK Group’s five major subsidiaries jointly established an investment corporation in August last year, which specializes in investing in promising companies and lucrative projects in Southeast Asia. The investment company has since been looking for investment targets
If this investment contract is concluded, it will be the first investment in Southeast Asia for the corporation.