Thais buy USD4.8bn stake in Sabeco

Vietnam Beverage, which the Thai Beverage Pcl holds a stake in, has bought a USD4.8bn 53.59%, stake in the Saigon Beer, Alcohol and Beverage Corporation at the bidding on December 18.

Vietnam Beverage, which the Thai Beverage Pcl holds a stake in, has bought a USD4.8bn 53.59%, stake in the Saigon Beer, Alcohol and Beverage Corporation at the bidding on December 18.

  

Thais buy USD4.8bn stake in Sabeco

The bidding was held at Ho Chi Minh City Stock Exchange. The Ministry of Industry and Trade sold the Sabeco stake for USD14.09 a share. Vietnam Beverage bought 343,662,587 shares and an individual bidder bought 20,000 shares.

Two corporate investors, one organisation and one individual bidder attended the auction. Thai Beverage previously expressed a desire to buy Sabeco and Vinamilk's stakes to expand the group’s overseas operations.

Prior to the bidding, Vietnam Beverage registered to buy a 51% stake in Sabeco. Foreign companies are only allowed to own a total 49% stake of Sabeco. 9.92% of Sabeco is already owned by other foreign stakeholders so Thai Beverage would only be able to own 39%. In order to buy more than 50% stake, Thai Beverage had to do business via a local company.

Vietnam Beverage was set up on October 6 in Hanoi, with a capital of VND682bn (USD30m).

Established in October 2003, Thai Beverage focuses on spirits, beer, non-alcoholic beverages, and food. It is currently the leading beverage producer and distributor in ASEAN.