Philippines’ San Miguel says looking to bid for Vietnam’s Sabeco
In this article (5)
The Philippines’ San Miguel Corp (SMC.PS) is looking to bid for Vietnam’s largest brewer Sabeco (SAB.HM), the conglomerate’s president said on Wednesday.
“Yes,” Ramon Ang said when asked if San Miguel is looking to join the bidding for the Vietnamese brewer.
Vietnam said earlier on Wednesday it is open to selling a 54-percent stake in Saigon Beer Alcohol Beverage Corp, but capped foreign ownership at about 49 percent.
Sabeco received a strong response from potential suitors at an investors’ roadshow in Singapore last week, its chairman Vo Thanh Ha said, as the government moves closer to finalizing a stake sale in the $9 billion maker of Bia Saigon and 333 brews.
Ha said the government is due shortly to publish details of a divestment plan for its nearly 90 percent stake in Sabeco as part of a lengthy fund-raising exercise.
The sale has attracted interest from brewers seeking access to one of Asia’s most-promising beer markets, which is already the second-most profitable for Dutch brewer Heineken NV (HEIN.AS).
Vietnam is shaping up as a battleground for global brewers thanks to a youthful population and beer-drinking culture.
Questions & Answers
Q.Which company has confirmed its interest in bidding for Sabeco?
Which company has confirmed its interest in bidding for Sabeco?
San Miguel Corp, a Philippine conglomerate, has stated through its president Ramon Ang that it is looking to join the bidding process for Vietnam's largest brewer, Sabeco.
Q.What percentage of Sabeco is the Vietnamese government open to selling?
What percentage of Sabeco is the Vietnamese government open to selling?
The Vietnamese government has indicated it is open to selling a 54 percent stake in Saigon Beer Alcohol Beverage Corp (Sabeco). This is part of a larger plan to divest its nearly 90 percent stake.
Q.What is the maximum foreign ownership cap for Sabeco mentioned in the article?
What is the maximum foreign ownership cap for Sabeco mentioned in the article?
Vietnam has capped foreign ownership in Sabeco at about 49 percent. This limit will apply to any potential international bidders interested in acquiring a stake.
Q.Why are global brewers interested in the Vietnamese market?
Why are global brewers interested in the Vietnamese market?
Vietnam is seen as a promising market for brewers due to its youthful population and established beer-drinking culture. This makes it an attractive region for expansion and investment.
Reader pulse
Is San Miguel's bid for Sabeco a smart move?
22,698 votes so far