The Vietnamese government, under the State Capital Investment Corp (SCIC), is all set to offload its final remainding stake (36%) in Saigon Beer Alcohol Beverage Corp (SABECO), with several sources expecting ThaiBev to be the final buyer.
ThaiBev is already the majority shareholder (54%) in SABECO after paying US$4.8 billion for the stake in 2018. However, it is widely speculated that, due to its high existing financial debt burden, ThaiBev might consider entering into a JV in Vietnam with Anheuser-Busch InBev, to form an alliance against Heineken, which is expanding in the country.
Heineken has launched Amstel in Vietnam as well as a Heineken lager, called Heineken Silver, made for the Vietnamese consumer.
Presently, SABECO is Vietnam’s leading brewer followed by Vietnam Brewery, HABECO and Hue Brewery. Carlsberg owns a stake in HABECO.
Who will acquire SABECO’s remainding stake ?
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