Alibaba, partners invest $400 million in retail arm of Vietnam's Masan

FILE PHOTO: The logo of Alibaba Group is seen at its office in Beijing, China January 5, 2021. REUTERS/Thomas Peter

HANOI (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd and partners have invested $400 million in the retail unit of Vietnamese conglomerate Masan Group Corp, Masan said on Tuesday.

The consortium, which includes Alibaba Group and Baring Private Equity Asia, has paid for a 5.5% stake in Masan's retail arm, The CrownX, the company said in a statement.