Discount Retail Chain Bach Hoa Xanh has sold a 5% stake to CDH Investment, a Beijing-based company, lower than an earlier plan to sell 20%.
Electronics retailer Mobile World said in a disclosure that its retail subsidiary has completed the deal, whose value was not revealed.
CDH Investment, established in 2022, is among the first private fund managers in China with focuses on consumer goods and manufacturing. It now manages US$27 billion in assets over 350 companies.
Bach Hoa Xanh is now seeing positive earnings and therefore does not need to sell as much as an earlier plan, the disclosure said.
The discount chain, established in 2015, posted VND8.3 trillion ($332 million) in accumulative losses by the end of last year. Its performance, however, has been improving this year. It posted a revenue of VND6.09 trillion in the first two months, up 47% year-on-year.
