Additionally, SK Group will transfer 7.1% of WinCommerce (WCM) shares to Masan Group (MSN) at a price of $200 million. WCM owns and operates the largest modern retail chain in Vietnam, boasting over 130 WinMart supermarkets and more than 3,600 WinMart+/WiN mini supermarkets.
By increasing its ownership in WCM, MSN strengthens its control and promotes the long-term growth of its core business. As part of its investment strategy, Masan will have the right to purchase the remaining shares of SK Group in WCM in the future at SK’s original investment cost. The partial sale of WCM shares allows SK Group to realize profits while maintaining a long-term investment in MSN through an extended put option.
In 2018, SK Group became a major shareholder of MSN and obtained a put option on its shares until 2024. As part of this strategic investment, SK Group also invested in WCM with a 16.3% stake and in The CrownX, Masan’s integrated consumer retail platform, which merges WCM and Masan Consumer Holdings, with a 4.9% stake.
In June-July 2024, WinCommerce consistently recorded positive net profits, driven by rapid revenue growth and the successful expansion of new store models to serve Vietnamese consumers in both urban and rural areas. This marks a significant milestone in WCM’s retail strategy, as operational optimizations and innovations have led to sustainable profitability.
“WinCommerce has entered a profitable phase, and we expect this trend to accelerate as we achieve like-for-like growth, successfully open new stores, and foster the development of modern retail in Vietnam over the medium term. We appreciate SK Group’s collaborative approach, which maximizes shareholder value for all stakeholders”, said Danny Le, CEO of Masan Group.
SK Group’s partial divestment in WCM is part of the company’s regular investment portfolio restructuring. SK Group remains confident in the growth trajectory and profitability of Masan Group, as well as Vietnam’s long-term consumption growth. SK Group and Masan Group will collaborate to realize this opportunity.
SK Group is a leading energy and telecommunications company, driving global innovation and representing Korea’s advanced technology with strengths in semiconductor battery and electric vehicle production. Ranking 2nd among Korean companies in total assets, SK has laid the foundation for future growth by focusing on four core business areas: advanced materials, green energy & solutions, digital & bio, and innovation ventures. SK Group’s companies recorded a combined revenue of $136.3 billion in 2023 and employ over 100,000 people worldwide. SK Group was also recognized as one of TIME’s 100 Most Influential Companies in 2023.
Masan Group, meanwhile, believes in the philosophy of “doing well by doing good.” The Group’s mission is to provide superior products and services to 100 million Vietnamese and global consumers, helping them spend less on their daily essentials. Masan realizes this vision by driving productivity through innovation, technology adoption, strong brand building, and focusing on capturing significant opportunities linked to the daily lives of the majority.
Masan’s subsidiaries and affiliates are leaders in fast-moving consumer goods, branded meat, retail, F&B chains, financial services, telecommunications, and value-added industrial materials production—all high-growth sectors in Vietnam’s economy.
A modern WIN store with a diverse range of products displayed based on big data analytics
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