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Vingroup divests from Anh Sao Real Estate

Released at: 14:56, 03/08/2015

Vingroup divests from Anh Sao Real Estate

Group sells 94% stake it picked up in April to unknown purchaser.

by Thu Hoang

Vingroup JSC has recently announced the transfer of its entire stake in the Anh Sao Real Estate Corporation.

It previously owned 94 per cent of charter capital, which it purchased from shareholders on April 14.

Other details relating to the deal, such as the purchaser and the value, have not been revealed as yet.

Through its subsidiaries Vingroup invested more than VND10 trillion ($458.5 million) in merger and acquisition (M&A) deals in 2014. Most were to consolidate its core function of real estate and some of the largest were carried out to facilitate the company’s diversification into other sectors such as retail and ports.

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