Insights and info on the Vincom Retail deal

1/ Fact: Vingroup is agreeing to sell 41.5% of Vincom Retail by selling 100% of SADO (who owns 41.5%). That is. Some media saying Vuong Pham is selling 100% of Vincom is wrong. After the selling of Sado, Vuong Pham still has 18.8% of through Vingroup. This is a fact.

2/ No info on the buyer. None. Zip. Usually, this kind of news is accompanied by the buyer information. Who is the buyer? Signing with whom? We will have to wait more for the info. For now, it is just an announcement that Vuong Pham is going to sell 100% of Sado. There were rumor in the past that it was Central but the name is not mentioned in the news. If Bloomberg and Reuters do not have a name of the buyer (they are very good at this), then the news is just bogus, just staging without actual buyer.

3/ The expected deal is between 3/2024 and Q3 2024 per media, meaning it is not yet done deal.

4/ At the closing price of today, Sado's Vincom Retail valuation is 25.94K B VND = $1.05B

5/ This is an attempt to pump up VRE for the dump the stock to get cash. The deal might not materialize but Vuong Pham can easily dump VRE on the retail traders. It is all coming back to dumping on the small guys for Vuong Pham.

Heck, what if Vuong Pham transfer Sado to another shell company in Cayman for easier dumping, who knows?

6/ There is rumor that this VRE move is to acquire land owned by VRE to convert them to other projects. See Bán Vincom Retail: Vingroup nói gì về quyền lợi khách thuê và nghi vấn thâu tóm đất vàng (cafef.vn) use google translate to read. Don't read much into this anyway but it is there.

So bottom line is there is no concerete detail yet. Just some news for the stock pumping. Money is not in the bank. We will have to wait for more detail but for now, the fact is that it is just an announcement of the BOD agreement to sell 41.5%. That is.