Vietnam’s Mobile World wins US$43.8 million investment
Vietnam’s Mobile World, the nation’s largest smartphone retailer, has received a US$43.8 million investment from Alstonia Costata, a subsidiary of South and Southeast Asia-focused private equity firm Creador.
The deal follows the decision of previous investor Mekong Capital to sell its stake.
The deal is Creador’s first transaction in Vietnam, reports DealstreetAsia.
“Mobile World stands out among its peers, not only because of its dominance in offline retailing, but also its market-leading position in online retailing with 16 per cent market share currently,” Creador said in a statement.
Mobile World Group owns The Gioi Di Dong and Dien May Xanh chains. Earlier this year, it acquired Tran Anh electronics and stepped into pharmacy retailing with An Khang stores.
Creador manages assets worth $875 million across its three funds in South and Southeast Asia.