SK Group Sells 5.05% Stake in Vietnam's Masan Group

Shareholding Ratio 8.72%→3.67%
Vietnam Local Media Reports, Sale Price Undisclosed

SK Group has sold a 5.05% stake in Masan Group, Vietnam's largest food and beverage and distribution company.

According to local Vietnamese media on the 3rd (local time), Masan Group announced on the 1st that SK Group sold 76.28 million shares of Masan Group Corporation, listed on the Ho Chi Minh Stock Exchange, to a third party.

As a result, SK Group's stake in Masan Group fell by 5.05 percentage points from 8.72% to 3.67%. Masan Group stated that the shares sold by SK Group were purchased by large institutions from Asia, Europe, and the United States with a long-term vision for Masan Group. The buyers and transaction amount were not disclosed.

The remaining Masan Group shares held by SK Group amount to 55.5 million shares, which are subject to a lock-up to stabilize the shareholder structure, thus sales are currently restricted.

In addition, SK Group holds a 4.9% stake in CrownX, a retail distribution company under Masan Group. CrownX has retail chain WinCommerce and food and beverage manufacturer Masan Consumer Holdings as subsidiaries. In September, SK Group announced it would sell its 7.1% stake in WinCommerce for $200 million (approximately 280 billion KRW).

Previously, SK Group purchased a 9.5% stake in Masan Group for about 530 billion KRW in 2018, and in 2021, according to a strategic partnership with Masan Group, acquired a 16.3% stake in VinCommerce (now WinCommerce) for $410 million (approximately 460 billion KRW).