Singapore's GIC-led consortium to invest $500 Mln in Vingroup's unit

A consortium led by Singapore's state investor GIC Pte Ltd [GIC.UL] has signed an agreement with Vietnam's largest conglomerate Vingroup JSC to buy a stake in one of the latter's units for $500 million, GIC said on Monday.

HANOI, Sept 9 (Reuters) - A consortium led by Singapore's state investor GIC Pte Ltd GIC.UL has signed an agreement with Vietnam's largest conglomerate Vingroup JSC VIC.HM to buy a stake in one of the latter's units for $500 million, GIC said on Monday.

Vingroup will remain the controller shareholder of the unit, VCM Services and Trading Development Joint Stock Company, after the deal, GIC said in a statement.

(Reporting by Khanh Vu, editing by Louise Heavens)

((khanh.vu@thomsonreuters.com; +84 24 38259623;))

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