Vincom Retail likely to sell stake to strategic investors
Thailand's largest retailer Central Group and other companies are negotiating to buy a stake in Vincom Retail, the retail arm of Vietnam's biggest private conglomerate Vingroup.
The negotiated stake size is not known due to the sensitivity of the matter, but Central Group executives have been seen meeting with Vincom Retail representatives in Ho Chi Minh City, where Central Group Vietnam is headquartered.
The transaction is expected to bring in strategic investors to Vincom Retail, Vietnam's biggest shopping mall operator.

Thailand's largest retailer Central Group and other companies are negotiating to buy a stake in Vincom Retail, the retail arm of Vietnam's biggest conglomerate Vingroup.
Vincom Retail, listed on the Ho Chi Minh Stock Exchange (HoSE) as VRE, posted net revenue of VND5.244 TRillion ($211 million) in the first nine months of 2022, up 16% year-on-year, according to its consolidated financial report.
Central Group disclosed in February its biggest investment in Vietnam at 50 billion baht, or around $1.45 billion, in the 2023-2027 period to expand its market presence in the country. According to Yol Phokasub, CEO of Central Retail, his firm sees Vietnam as a high-potential market that has posted continuous economic growth. With the firm’s strong foothold in the country, it has set a five-year roadmap to continue its expansion here, allocating 50 billion baht.
He told the Bangkok Post that Central Group had invested more than 10 billion baht to expand its retail business in Vietnam from 2012-2022. Central Retail has more than 340 stores in Vietnam with a total gross floor area exceeding 1.2 million square meters across 40 provinces.
According to Central Retail, its Vietnam subsidiary wants to grow its food business nationwide to reinforce its leading position in the nation’s hypermarket segment by rebranding and renovating 10 GO! branches, and expanding Tops Market and Mini Go! branches by adding 8-10 outlets to better serve local consumers.
At present, Singapore real estate giant CapitaLand Group is in talks to acquire assets worth roughly $1.5 billion from Vietnam’s biggest listed property firm Vinhomes JSC, another subsidiary of Vingroup.
Vinhomes (HoSE: VHM) has a market value of $8 billion as Vietnam’s biggest real estate developer by market capitalization, with property assets nationwide.
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