HANOI - A consortium led by GIC has paid US$500 million for a minority stake in a retail unit of Vingroup JSC, according to a statement from the Singapore sovereign wealth fund on Monday .
Vingroup and VCM Services & Trading Development JSC have"established themselves as reputable retail companies with attractive brands in Vietnam's fast-growing consumer market," GIC said in the statement."As a long-term investor, GIC is confident in the growth outlook for disposable incomes and household consumption in Vietnam."
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