Alibaba, Baring Asia back Masan's Vietnam grocery push
A consortium led by Alibaba Group and Baring Private Equity Asia has invested $400 million in the combined consumer goods and grocery retail operations of Vietnam conglomerates Masan Group and Vingroup.
The investors will take a 5.5% interest in The CrownX – formed last year through the consolidation of Masan Consumer Holdings and VinCommerce – at a pre-money equity valuation of $6.9 billion. Masan...
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