Corporate digest
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A consortium led by Singapore's GIC Pte Ltd has agreed with Vietnam's largest conglomerate Vingroup JSC to buy a stake in one of the latter's units for US$500 million, GIC said on Monday. Vingroup will remain the controlling shareholder of the unit, VCM Services and Trading Development Joint Stock Company, after the deal.
Vingroup, once a real estate and retail conglomerate, has grown to become Vietnam's largest listed firm with a market capitalisation of more than US$16 billion.
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