According to Maeil Business Newspaper, a renowned South Korean business newspaper , SK Group intends to sell its stakes in Vietnamese giants to recover its initial investment of 1 trillion won (approximately 18.32 trillion VND). SK Group is currently restructuring its business operations and will therefore reassess its investments to ensure cash flow.
Accordingly, SK Group may exercise its put option to sell its 9% stake in Masan Group. SK Group is seeking a partner to complete the sale. The investment in 2018 was approximately $450 million. The proceeds from the sale of shares could be recovered by the end of this year.
Reportedly, negotiations for the sale of shares between the two companies are in their final stages. Masan Group is currently one of the largest retail and consumer goods groups in Vietnam.
SK Group headquarters (Photo: Yonhap News).
Recently, SK Group appears to be taking urgent action. The group will hold a strategic meeting from June 28th to 29th to explore strategies for restructuring its investments.
At this meeting, the group will explore ways to maintain SK On, SK Innovation's electric vehicle battery subsidiary. A merger scenario between SK Innovation and SK E&S, an affiliated energy company, is also being discussed.
"We are in the review phase and nothing has been decided yet," a senior executive at SK Group told Maeil Business Newspaper.
Source: https://dantri.com.vn/kinh-doanh/bao-han-sk-group-muon-thu-hon-18300-ty-dong-tu-ban-co-phan-o-viet-nam-20240622171710552.htm
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