[Alpha Biz= Reporter Kim Jisun] SK Group has divested a 5.05% stake in Vietnam’s largest food and retail company, Masan Group. According to Masan Group on November 3, SK sold 76.28 million shares listed on the Ho Chi Minh Stock Exchange. This sale reduced SK’s stake from 8.72% to 3.67%.

Masan Group noted that institutional investors from Asia, Europe, and the U.S. purchased the shares, though it did not disclose the buyers or sale price. Post-sale, SK holds 55.5 million shares in Masan Group, which are under a lock-up agreement and thus cannot currently be sold.

SK initially invested 530 billion won (about $460 million) in 2018, acquiring a 9.5% stake in Masan. In 2021, they expanded this partnership by purchasing a 16.3% stake in VinCommerce (now WinCommerce) for $410 million. WinCommerce operates over 3,600 convenience stores and supermarkets, making it Vietnam’s largest grocery distribution platform. In September, SK announced plans to sell 7.1% of its WinCommerce shares for $200 million.

 

 

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