ThaiBev, the leading Thai drinks firm, has announced that it has made a successful bid to acquire a majority stake in Vietnam’s state-owned beer maker Sabeco.
In a statement, ThaiBev said it had agreed to acquire approximately 53.59% of all outstanding ordinary shares in Sabeco for an aggregrate price of approximately 156 billion THB ($4.77 billion).
ThaiBev ultimately emerged as the only bidder for Sabeco, despite previous reports that a number of other major drinks firms might take an interest.
Commenting on the deal, ThaiBev listed Sabeco’s “attractive assets and brands”, the “attractive and high growth Southeast Asian market”, “potential for collaboration” and alignment to the company’s Vision 2020 strategy as reasons for the acquisition.
Sabeco is a 140 year old business with the largest market share in Vietnam’s beer sector. Its brands include Saigon Beer and 333 Beer.
Source: ThaiBev /Bangkok Post
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