Allens has advised SK Group on an agreement to extend the timeline for its put option with Masan Group (MSN) and its sale of a 7.1% stake in WinCommerce to MSN for US$200 million.
SK Group is a leading conglomerate, ranking second among Korean enterprises in total assets. Since 2018, SK Group has invested over US$1.2 billion in MSN and its affiliates, including approximately US$470 million for a 9.5% stake in MSN with a put option to sell the shares back to MSN in 2024, which has now been extended.
Together with extending the put option, Allens also advised SK Group on the sale of its 7.1% stake in WinCommerce to MSN for US$200 million.
'We are delighted to have worked with SK Group on these significant transactions and look forward to our continued work together in the future,' said Partner Linh Bui.
