Masan Group clarifies false reports on SK Group investment

According to Maeil Business Newspaper, SK Group (SK) “has exercised a put option (the right to sell shares) to sell 9 per cent of its stake in Masan Group”. Masan stated that this is false report. To date, SK has not exercised the put option.

The two companies are in the final stage of an orderly and market-based process for SK Group to reduce their stakes in Masan Group, targeting professional pre-identified investors who are familiar with MSN’s business operations, subject to optimal market conditions. This process is designed to protect and maximise the interests of the shareholders of both companies.

SK became a shareholder in Masan Group in 2018, investing approximately $450 million to acquire a 9.5 per cent stake in Masan Group.

In mid-November 2021, SK Group, through its subsidiary SK Southeast Asia Investment, purchased a 16.3 per cent stake in WinCommerce for $410 million as part of its strategic partnership with Masan Group.

By November, SK Group further invested $340 million to acquire a 4.9 per cent stake in The CrownX, resulting in Masan and SK holding 85 per cent and 4.9 per cent stakes, respectively, in The CrownX.

Currently, SK Investment Vina I holds 131.9 million MSN shares, equivalent to a 9.22 per cent stake,

As reported by Maeil Business Newspaper, SK Group will sell its investment stake in the Vietnamese giant to secure more than 1 trillion won ($720 million) in funds. SK Group, which is speeding up its business reorganisation, has disposed of non-mainstream investment assets to secure cash flows.

SK Group has exercised a put option (the right to sell shares) to sell 9 per cent of its stake in Masan Group and is currently finalising the sale negotiations. The amount invested at the time in 2018 was $450 million, and the principal and interest will be recovered by the end of this year. Masan Group is the second-largest distributor in the Vietnamese business community.

During a meeting with institutional investors on May 9, Danny Le, CEO of Masan Group said, "SK Group would not conduct a mass sale of Masan Group’s MSN shares."

“We will continue to collaborate with SK Group as partners, alongside their role as shareholders. SK also holds stakes in The CrownX and WinCommerce and is committed to long-term investment in Vietnam. Therefore, Masan Group and SK plan a phased divestment over 24 months, mitigating concerns of a sell-off impacting share prices,” he said.

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