GS Caltex Acquires Stake in Vietnamese Car Wash Startup VI Automotive Service (2020.10)

GS Caltex Corp., one of South Korea’s largest refiners by revenue, signed an agreement to acquire 16.7% stake in Vietwash at a value of 39 billion dong (approximately $1.6M). As an operator of over 50 car wash centers in Vietnam, Vietwash will allow GS Caltex to partner and enter the auto repair market in Vietnam.