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Alibaba-backed Vietnamese entrepreneur After raising financing, CrownX plots a road to profitability.
Quynh Nguyen, Nguyen Thi Bich Ngoc, Nguyen Thi Bich Ngoc, Nguyen Thi Bich Ngoc, Nguyen Thi Bich Ngoc, Ngu
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Vietnamese retailer The CrownX is moving ahead with aspirations to expand in the country’s modern retail arena and, eventually, achieve profitability, after amassing a sizable war chest from legendary investors.
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The CrownX Alibaba Baring Private Equity Asia Masan Group
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For $400 million, an Alibaba and BPEA-led company buys 5.5 percent of Masan’s retail platform The CrownX.
The CrownX’s pre-money value is estimated to be $6.9 billion as a result of the purchase.
Masan Group, based in Vietnam, is in talks to raise $1 billion for its animal feed sector, according to reports.
The segment is “under-appreciated by the market,” according to the company’s executives.
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