TPG, ADIA, and Seatown Master Fund Invest in Masan Group’s CrownX
Posted on 12/13/2021
Masan Group Corporation, is among the top three largest private sector companies in Vietnam in terms of market capitalization. The group was founded and is headquartered in Ho Chi Minh city. Its subsidiaries include Masan Food, Techcombank (Vietnam Technological and Commercial Joint Stock Bank), and Masan Resources. Singapore’s GIC Private Limited is an investor in Techcombank.
TPG Capital, Abu Dhabi Investment Authority (ADIA), and the SeaTown Master Fund, managed by a wholly owned indirect subsidiary of Temasek Holdings, made a combined US$ 350 million primary investment in The CrownX Corporation. In total, The CrownX Corporation has raised over US$ 1.5 billion in investments since its creation in the first half of 2020. Post the completion of the transaction, Masan will own 81.4% of The CrownX. The CrownX intends to use the proceeds from the transaction to invest in growth initiatives and conduct a share buyback. Masan Group is controlled by the founder and Vietnamese tycoon Nguyen Dang Quang.
Revealed on May 18 2021, Alibaba Group and Baring Private Equity Asia bought a 5.5% stake in The CrownX for US$ 400 million.
The CrownX is an integrated consumer retail platform that currently consolidates Masan Group’s interests in Masan Consumer Holdings and VinCommerce.
Advisors
Credit Suisse (Singapore) Limited acted as the exclusive financial advisor to Masan Group.
