A majority stake of Mongolian conglomerate MSM Group has been acquired by Singapore-headquartered industrial company, Jebsen Jessen Group, according to a MSM Group announcement.
The transaction marked the foreign takeover of a leading Mongolian conglomerate under a private deal, with full details undisclosed.
MSM is one of the leading conglomerates in Mongolia, with businesses spanning across industrial, automotive, chemical, agriculture, and beverage. It remains a sole distributor and partner for over 50 international brands in the Mongolian market, including BYD, Mercedez-Benz, Red Bull and Bosch.
The decision to sell came as “continuous re-investments” were needed to fund the growth of MSM in...
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