GIC leads $690m investment in Vingroup's supermarket and convenient store operator

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HANOI (BLOOMBERG) - A consortium led by GIC has paid US$500 million (S$690 million) for a minority stake in a retail unit of Vingroup JSC, according to a statement from the Singapore sovereign wealth fund on Monday (Sept 9).. Read more at straitstimes.com.

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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