SK Group is planning to establish a consortium with financial investors to pour US$1 billion in Vietnamese conglomerate Vingroup JSC, DealStreetAsia reported, citing a report from South Korean news agency MK.co.kr.
The South Korean conglomerate, through its SK Southeast Asia Investment subsidiary, will contribute US$500 million to the consortium. SK Group reportedly intends to begin the investment transaction in April.
An email to the Vietnamese conglomerate to seek comment regarding the investment was unanswered as of the March 22 publication of DealStreetAsia's report.
Vingroup is the holding company of both Vinhomes JSC and Vincom Retail JSC. It has businesses across multiple sectors including real estate, retail, hospitality and entertainment, logistics, e-commerce, education, healthcare, automobile, technology and smartphone manufacturing.