Masan Group to hold almost 84% stake at VinCommerce's parent company

Masan Group board of directors approved the share swap in the merger of Vinmart and VinEco from Vingroup.

With the percentage of holdings in VCM, VinCommerce's parent company, Masan has obtained the right to operate Vinmart and Vinmart + chains. 

However, the ownership ratio of Masan and Vingroup in the newly-merged retail giant has not been announced, but earlier statement said Masan will hold the controlling stake and the right to operate the business.

Masan will issue options to receive shares of a combined company that is a unit of VCM. The merged firm will hold shares/capital contribution of and operate of both VinCommerce and Masan Consumer Holdings.

Masan's Chairman Nguyen Dang Quang and Danny Le, head of Strategy and Development of the group will decide specific terms and conditions of the deal.

Founded on August 5, 2019, VCM has chartered capital of VND1 billion ($43,158). From the early time, Vingroup held 64.3% stake at this company. It later raised chartered capital to VND6,437 billion ($277.8 million).

In separate statement, Vingroup says VCM is no longer its unit after having shares swapped and in return received unspecified amount of shares in merged retail giant which is a subsidiary of Masan Group.