Grocery Distribution Company Operating Convenience Stores and Supermarkets
SK Acquires 16.3% Stake in 2021
As part of its group rebalancing (restructuring), SK Group has sold a portion of its stake in WinCommerce, the distribution subsidiary of Masan Group, Vietnam's largest food and beverage and distribution company, securing approximately 270 billion KRW in cash.
According to industry sources on the 4th, SK Group decided to sell 7.1% of its stake in WinCommerce to Masan Group for 200 million USD.
In 2018, SK Group established SK Southeast Asia Investment Corporation and began local investment by acquiring a stake in Masan Group, Vietnam's number one food and beverage company. At that time, SK Group and the National Pension Service acquired a 9.5% stake in Masan Group for 470 million USD, which was approximately 530 billion KRW at the time.
Following the strategic partnership with Masan Group, SK Group purchased a 16.3% stake in VinCommerce (now WinCommerce) in 2021 for 410 million USD (approximately 460 billion KRW).
SK REITs (SK Entrusted Management Real Estate Investment Company) will enter the KOSPI market next month. On the 18th, the SK Group headquarters located in Jongno-gu, SK Seorin Building. Photo by Mun Ho-nam munonam@
WinCommerce is Vietnam's largest grocery distribution platform, operating over 3,600 convenience stores and supermarkets locally.
Additionally, SK Group and Masan Group agreed to extend the exercise period of SK Group's put option on Masan Group by up to five years. SK Group will continue its long-term investment in Masan Group while realizing investment returns by selling part of its stake in WinCommerce.
An SK Group official stated, "Based on our belief in Masan Group's growth potential, we will continue to strengthen our friendly partnership."
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