SEOUL, Dec 26 (Reuters) – South Korea’s second-largest conglomerate SK Group (034730.KS) is considering selling some of its assets in Southeast Asia and reinvesting in other businesses in countries in the region, including Vietnam, a South Korean newspaper reported.
“We are considering some asset adjustments as part of regular changes to our portfolio from time to time, but nothing has been confirmed yet,” an SK official said.
“Even if some assets are adjusted, we will use it to reinvest in other growth areas in Vietnam.”
The conglomerate plans to decide which assets to potentially sell depending on buyers’ offers, and is considering reinvesting some of the proceeds from any stake sales in local firms, South Korean newspaper the Korea Economic Daily reported on Sunday citing unnamed investment banking sources.
Assets held by SK Group’s Southeast Asia investment firm that could be sold, according to the paper, include stakes in Vietnam’s Vingroup (VIC.HM), Masan Group (MSN.HM), retail pharmacy chain Pharmacity, retailer VinCommerce and consumer retail platform The Crown X.
It also has a stake in Malaysian fintech company Big Pay, the paper said.
Reporting by Joyce Lee; Editing by Kenneth Maxwell and Angus MacSwan
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