Big Investment from Alibaba to Vinmart Operator The Crownx!

  Big Investment from Alibaba to Vinmart Operator The Crownx! According to the joint statement made by the three companies on Tuesday; The consortium signed a $ 6,9 billion deal to buy a 5,5 % stake in The CrownX. E-commerce giant Alibaba ( BABA (NYSE) $213.46 +2.41(+1.14%) Group Holding Ltd. and Baring Private Equity Asia Ltd. The consortium, led by the leadership, will invest $ 400 million in Masan Group's subsidiary in Vietnam. Masan Group is also in talks with other investors to make a new investment of $ 300-400 million in CrownX. The deal is expected to be concluded in 2021. Danny Le, Chief Executive Officer of Masan Group, said that their urgent priority is to "modernize Vietnam's grocery products market and develop a unique consumer offering, from product variety to shopping experience."

According to the joint statement made by the three companies on Tuesday; The consortium signed a $ 6,9 billion deal to buy a 5,5 % stake in The CrownX.

Grocery products make up 50 % of Vietnam's retail market and 25 % of the consumer wallet share. According to the statement, the market, which covers basic daily use materials, is still very inexperienced in online penetration. “The combination of Alibaba's online retail expertise, Lazada's e-commerce platform in Vietnam, and Masan's leading offline network, Vietnam's retail market it will be a powerful catalyst to modernize its environment. " Credit Suisse was the financial advisor to the Vietnamese Masan Group, while Deutsche Bank was the financial advisor to Baring Private Equity.    

Source: www.marketwatch.com

 

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