Friday, February 3, 2023

Vietnam to sell majority stake in Sabeco, caps foreign ownership at 39 percent

Vietnam to sell majority stake in Sabeco, caps foreign ownership at 39 percent

HO CHI MINH CITY (Reuters) - Vietnam said on Wednesday it is open to selling a 54-percent stake in Sabeco SAB.HM, the country’s top brewer, but capped foreign ownership at about 39 percent.

The mininum price for the long-stalled sale of the $9 billion maker of Bia Saigon and 333 brews has been set at 320,000 dong ($14.10) a share, a trade ministry official told a news conference.

The government owns nearly 90 percent of Sabeco. Vietnam is shaping up as a battleground for global brewers thanks to a youthful population and beer-drinking culture.