SINGAPORE — One of Thailand’s richest tycoons is looking to buy a quarter of Vietnam’s largest beer maker in a deal worth at least $2.25 billion, making his company the sole bidder wanting to buy a substantial stake.
If successful, it would be one of the largest foreign investments in the Asian frontier market and could boost foreign investor confidence in the communist government’s reforms planned for its state-owned enterprises.
Vietnam Beverage Co., a unit of Singapore-listed Thai Beverage PCL, has submitted a bid to acquire at least a 25% stake in state-owned Saigon Beer Alcohol Beverage Corp., known as Sabeco, according to a statement from Vietnam’s Ministry of Industry and Trade on Tuesday.
In its statement, the ministry said that, as of Monday, Vietnam Beverage was the “one investor registered” to buy a large volume for Sabeco’s share.
Thai Bev is owned by billionaire Charoen Sirivadhanabhakdi. The tycoon has been on an acquisition spree in recent years, buying stakes in companies from hypermarkets to milk producers.
By P.R. Venkat, http://www.foxbusiness.com/features/2017/12/13/saigon-beer-draws-thai-bidder-wsj.html