ThaiBev officially involves in Saigon Beer managementThe Saigon Beer Alcohol Beverage Corporation (Sabeco) appointed a new management board at an extraordinary shareholders’ meeting on April 23, following Thai Beverage Public (ThaiBev)’s acquisition of a 53.59 percent stake in the State brewer last year. Beer product deliverySabeco Chairman Vo Thanh Ha, who represented the Ministry of Industry and Trade, resigned from his position and three new investors were elected to the management board. The extraordinary shareholders’ meeting was organised to review personnel matters in the company in response to Thai Beverage Public’s query relating to its authority to participate in Sabeco’s management board. In a recent letter sent to the Government, ThaiBev has expressed concern that until now it has not been directly involved in Sabeco’s management board, even though its ownership here has reached 53.59 percent of charter capital. In December 2017, ThaiBev, through its subsidiary Vietnam Beverage Co Ltd, purchased a 53.59 percent share of Sabeco’s charter capital for nearly 5 billion USD through an auction on the HCM Stock Exchange.-VNA

Source: VietNamNet News April 23, 2018 10:41 UTC