ThaiBev eyes stake in Vietnam’s largest brewer
SABECO is seeking approval for stock listing.
Thai Beverage (ThaiBev) is setting its sights on a stake in Vietnam's largest brewer SABECO (Saigon Beer, Alcohol, Beverage Corporation).
Citing media reports, OCBC revealed that ThaiBev has joined several major foreign brewers in a bid for shares in the Vietnam beverage giant.
"In a recent update, SABECO has filed documents to seek approval from the Ministry of Industry and Trade to join the Vietnam Stock Index (VN-Index) as the government would want the market to determine the price of stakes in SABECO, while the deal is expected to be worth at least US$1.8b," OCBC stated.
"Following its listing, the divestment of SABECO will be done in two tranches, whereby the government will auction 53.59% in the company this year and the remainder of the stake in 2017," it added.
Reports also suggest the government is on the prowl for the highest bidder.