South Korean SK Group a major Vingroup shareholder
The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea. Photo by REUTERS/Kim Hong-Ji
SK Group has spent nearly $1 billion on a 6.15 percent stake in Vingroup, Vietnam’s biggest private conglomerate.
The Ho Chi Minh City Stock Exchange (HoSE) announced Tuesday afternoon that 205.7 million VIC shares of Vingroup were bought by SK Investment Vina II – a subsidiary of the SK Group, on May 21.
With a 6.15 percent stake in Vingroup, SK Group has become a major shareholder under Vietnamese law, a status conferred on a shareholder directly or indirectly owning at least 5 percent of voting shares.
The transaction happened five days after Vingroup and SK Group signed a strategic cooperation agreement.
According to the agreement, SK Group would spend V...