Vietnam's biggest brewer auctions $4.8 billion stakeStaff Writer | December 18, 2017
Vietnam's biggest brewer Sabeco successfully sold nearly 53.6 percent of its stake totaling $4.8 billion to a local company.
Public offer The biggest-ever stake auction
After Vietnam's biggest-ever stake auction on Monday, the Vietnamese Ministry of Industry and Trade owns only 36 percent of Sabeco stakes. Vietnam has equitized over 530 state-owned enterprises over the past five years, according to the ministry.
Sabeco is estimated to make after-tax profits of 4.9 trillion Vietnamese dong ($216.8 million), and net revenues of nearly 34.7 trillion Vietnamese dong ($1.5 billion) in 2017.
Vietnam Beverage was established in October 2017 with chartered capital of nearly 681.7 billion Vietnamese dong ($30.2 million).
Thai brewer ThaiBev of Thai billionaire Charoen Sirivadhanabhakdi owns 49 percent of stakes of F&B Alliance Vietnam which owns 100 percent of stakes of Vietnam Beverage.
According to Vietnam's Securities Law, Vietnam Beverage is considered a local company, so it is not subject to the rule that foreign ownership in a Vietnamese enterprise is capped at 49 percent. ■