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Business deals

Vingroup to move away from supermarkets and focus on tech

Vietnam's largest conglomerate and Masan to merge retail segments

Vingroup wants to divest from its supermarket business and focus on technology.    © Reuters

HANOI -- Two leading Vietnamese conglomerates Vingroup and Masan Group have agreed to merge their retail and consumer goods manufacturing businesses, they said on Dec. 3, in a move to create the country's largest retail company.

Masan will take control of the merged company while Vingroup will remain as a shareholder. Vingroup, the largest conglomerate in the country, intends to focus on technology and manufacturing.

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