May 16, 2019 / 5:01 AM / a month ago

SK Group to buy 6.1% stake in Vietnam's Vingroup for $1 bln

SEOUL, May 16 (Reuters) - South Korea’s chip-to-energy conglomerate SK Group said on Thursday it has agreed to buy a 6.1% stake in Vietnam’s Vingroup JSC for $1 billion.

SK Group said it will actively seek new business opportunities in the Southeast Asian country as a strategic investor in the Vietnamese conglomerate that makes a range of products from automobiles to smartphones.

Vingroup is Vietnam’s top-listed firm by market value.

Last year, SK also bought 9.5% stake in Vietnam’s second-biggest conglomerate Masan Group Corp for $470 million. (Reporting by Heekyong Yang and Hyunjoo Jin; Editing by Himani Sarkar)

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