A corner of a beer production line of a factory of Saigon Beer Corporation (Sabeco) is seen in Hanoi. (Reuters video)HANOI/SINGAPORE: Thai Beverage, through a Vietnam unit, has emerged as the only bidder which has registered to own at least 25% of the nation's top brewer, Sabeco, in which the government is selling a US$5-billion stake. Sabeco's foreign ownership cap limits overseas bidders to a minority stake of up to 39%, as foreign entities already own 10%. Vietnam Beverage Company Ltd is owned by Vietnam F&B Alliance Investment Company, which is in turn 49% owned by BeerCo Ltd, an indirect wholly-owned subsidiary of ThaiBev, official documents on the companies showed. Lack of control, the unorthodox manner of the sale of the Sabeco stake and sky-high valuations could put off some possible bidders, bankers, investors and lawyers said.

Source: Bangkok Post December 12, 2017 07:30 UTC