Central Retail has fully divested from Nguyen Kim Electronics as it refocuses on its core food and property businesses in Vietnam.
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The company announced on December 23 that it had entered into a share purchase agreement with PICO Holdings JSC, a Vietnamese electronics retailer, to dispose of its entire direct and indirect investment in Nguyen Kim Electronics.
Central Retail’s investment in NKT New Solution and Technology Development Investment JSC and its subsidiaries, wholly owned by NKT, will be disposed at enterprise value of $36 million. NKT is the holding company for the electronics retail business operated under the Nguyen Kim brand in Vietnam.
Central Retail said it will record a one-time, non-cash impairment charge of approximately $190 million in the fourth quarter of 2025. The company added that its financial position remains solid and that the impairment will not have a material impact on operations, assets, financial condition, or dividend payments.
The divestment forms part of Central Retail’s strategy to optimise its business portfolio in Vietnam by reallocating resources to improve operational efficiency, accelerate expansion, and enhance returns across its two core businesses in the country–food and property. The transaction will be completed once all conditions precedent are met or waived, including approvals from relevant authorities and business partners.
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