SK Group to buy 6.1% stake in Vietnam's Vingroup for US$1b

MAY 16, 2019 - 1:14 PM

[SEOUL] South Korea's chip-to-energy conglomerate SK Group said on Thursday it has agreed to buy a 6.1 per cent stake in Vietnam's Vingroup JSC for US$1 billion.

SK Group said it will actively seek new business opportunities in the South-east Asian country as a strategic investor in the Vietnamese conglomerate that makes a range of products from automobiles to smartphones.

Vingroup is Vietnam's top-listed firm by market value.

Last year, SK also bought 9.5 per cent stake in Vietnam's second-biggest conglomerate Masan Group for US$470 million.

REUTERS

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