September 9, 2019 / 8:44 AM / 8 days ago

Singapore's GIC-led consortium to invest $500 Mln in Vingroup's unit

HANOI, Sept 9 (Reuters) - A consortium led by Singapore’s state investor GIC Pte Ltd has signed an agreement with Vietnam’s largest conglomerate Vingroup JSC to buy a stake in one of the latter’s units for $500 million, GIC said on Monday.

Vingroup will remain the controller shareholder of the unit, VCM Services and Trading Development Joint Stock Company, after the deal, GIC said in a statement.

Reporting by Khanh Vu, editing by Louise Heavens

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