MSN: Information on the $400mm investment in The CrownX
Alibaba, Baring Private Equity Asia consortium complete $400mm investment in The CrownX
“HCM CITY — Masan Group Corporation (HOSE: MSN) on June 14 announced the completion of a private issuance of a 5.5 per cent stake in The CrownX Corporation to a consortium led by Alibaba Group and Baring Private Equity Asia for a cash consideration of US$400 million.
The deal was first announced on May 18.
The CrownX is Masan’s integrated consumer retail arm that consolidates its interests in Masan Consumer Holdings and VinCommerce.
The transaction implies a pre-money valuation of $6.9 billion for The CrownX, or $93.5 per share. Masan now owns 80.2 per cent in it.”