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Thai firms mull Sabeco stake

Feb 5th at 14:33
05-02-2015 14:33:45+07:00

Thai firms mull Sabeco stake

The Wall Street Journal New reported that Thai brewers, Singha Corp. and ThaiBev are independently mulling purchasing a stake in Vietnamese State-owned beverage corporation Sabeco.

ThaiBev is reportedly looking to buy a 40 per cent stake worth some US$1 billion, the US-based newspaper said.

The newspaper's source is an official from the Ministry of Industry and Trade, who had revealed that ThaiBev has offered to buy the stake for VND80,000 ($3.75) each share, which means it valued Sabeco at $2.4 billion.

The official also revealed that the two Thai investors have talked to the ministry, but Sabeco has refused to meet them. Phan Dang Tuat, chairman of the Vietnamese brewer, reportedly said the sale of the stake would depend on the State's decision.

State ownership in Sabeco is currently pegged at 89.6 per cent, and the Government plans to sell up to 53 per cent to strategic investors.

Sabeco has seen stable profit growth during recent years. In 2014, it reported gross profit of VND3.9 trillion ($183 million), up 9 per cent from 2013. Sabeco's shares were trading around VND73,800 on the over-the-counter market yesterday.

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