VIETNAM – Saigon Beer, Alcohol and Beverage Corporation (Sabeco), Vietnam’s largest beer producer, intends to sell 53% of its shares in a single tranche.
If the deal receives government approval for completion, it will reduce the state’s holding in the company to around 36%
It is unclear who the party purchasing the shares is. Local media previously reported that several foreign players, including Thai Beverage Group, Singha Corporation – another Thai brewer, Japan’s Asahi Breweries, Heineken (which already holds a 5% stake in Sabeco) and US-based SAB Miller, were examining potential investments in the state-owned brewer.
Sabeco – known for its popular beer brand Saigon - has been trying to divest state holding to a minority 36% from as early as May 2015; at the time, local media reported that nine companies had submitted bids in the deal, estimated to be worth upwards of US$1 billion.
Market analysts estimate Sabeco currently holds a 46% share in Vietnam’s beer market.
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