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Alibaba and Partners Take 5.5% Stake in Vietnamese Retail Group

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Alibaba led a $400 million investment round in a Vietnamese retail group, signaling its focus on Southeast Asia’s emerging online grocery sector. The investment round, which included Baring Private Equity Asia, will give new investors a 5.5 percent stake in TheCrownX, the holding company for Masan Group Corp.’s interest in Masan Consumer Holdings and VinCommerce….

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