Chinese e-commerce giant Alibaba Group and Baring Private Equity Asia have paid $400 million to buy 5.5 per cent stake in The CrownX, retail unit of Vietnamese conglomerate Masan.
Transaction values VinCommerce at $2.5 billion for 100 per cent of its equity.
All 23 Fivimart stores will be intergrated into Vingroup’s system and renamed to Vinmart soon.
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