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Thai Group still considers Sabeco share purchase

SGGP
Vietnam Beverage, a subsidiary of Thai Beverage Public Company Limited (ThaiBev), is still considering share purchase of Saigon Beer, Alcohol and Beverage Corporation (Sabeco) and will make the final decision on December 17.

Beer production at Sabeco

Beer production at Sabeco

The Ministry of Industry and Trade yesterday said that Vietnam Beverage would decide to attend Sabeco's offering session or not after 4 p.m. on December 17,  deadline for investors to register.
In case finding offering price unsuitable after doing deposit related procedures, investors can propose to withdraw their deposits and no longer attend the competitive offering session before the deadline.
Previously the leader of Industry Department under the ministry said that as of December 11, Vietnam Beverage had registered to buy up to 51 percent of Sabeco shares at the auction session on December 18. It is the only firm registering to buy a large volume of Sabeco shares. If the purchase is done, ThaiBev will own 25 percent of Sabeco stocks.
However on December 12 ThaiBev announced that Vietnam Beverage’s registration aimed to meet requirements on competitive bidding by Sabeco. That did not mean that Vietnam Beverage would buy over 25 percent shares.
At present, the group continues considering Sabeco share purchase because registration will just expire on December 17.

By VAN PHUC – Translated by Hai Mien

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