A ccording to information published on ThaiBev’s website, on December 29, after Vietnam Beverage paid all to the Vietnamese government, the Ministry of Industry and Trade (MoIT) officially handed over 53.6 per cent of Sabeco to the firm. After the transaction, Vietnam Beverage officially became Sabeco’s parent company and holds a controlling stake in Sabeco. Vietnam Beverage is wholly-owned by Vietnam F&B Alliance Investment JSC, which is in turn indirectly owned by Beer Co., Ltd., a Hong Kong-based company wholly-owned by ThaiBev. According to ThaiBev, the entirety of the funds used for the deal came from loans. Notably, it borrowed $3.05 billion from local banks, including Bangkok Bank , Kasikornbank Public, Krung Thai Bank, Bank of Ayudhya, and Siam Commercial Bank, with two-year terms. In addition, its wholly-owned subsidiary Beer Co borrowed another $1.95 billion from Mizuho Bank and Standard Chartered Bank’s Singapore branch. Ealier on December 18, Vietnam Beverage (49 per cent controlled by ThaiBev), won an auction to acquire 343.6 million shares, equivalent to 53.5 per cent of Sabeco at VND320,000 ($14.09) apiece. This was the largest share sale in Vietnam so far and possibly the largest in Asia this year. ThaiBev proceeded with the record deal due to Sabeco’s long history, dominance in the Vietnamese beer-loving market, and high potential. Meanwhile, industry experts ascribed the high price to the “control premium” factor. Previously, before the auction took place, Sabeco’s hit a new record, reaching VND320,000 ($14.09) to become the largest value ticker on the Vietnamese stock exchanges. However, after…
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Uber, which connects passengers and drivers via a smartphone app, started offering services in Vietnam on July 31, with rides now available in both Hanoi and Ho Chi Minh City.Customers use the Uber app on their smartphones to request rides and track their reserved vehicle's location.Uber riders will be informed of the fare and ETA (estimated time of arrival) before they get in the car, and the complete fare is automatically billed to the customer's credit card at the end of a ride.The transport firms that own the cars will receive 80 percent of the payment, while 20 percent goes…... [read more]
The Asian Development Bank’s Trade Finance Programme and the Ho Chi Minh City Development Bank and Saigon-Hanoi Commercial Joint Stock Bank signed agreements enabling the programme to provide guarantees of up to USD100 million a year to support trade finance in Vietnam.“Under these agreements, the ADB and our new Vietnamese bank partners will support exporting and importing companies, including small and medium-sized enterprises,” said Steven Beck, ADB’s head of trade finance. “This agreement will help create economic growth and jobs.” ADB’s Trade Finance Programme has been operating in Vietnam since 2009. The new agreements add to the nine other existing…... [read more]
The World Bank’s Board of Executive Directors has approved a $102 million loan to the Vietnamese Government to support the efforts of industrial enterprises to adopt energy-efficiency technologies and practices. Mr. Ousmane Dione, the World Bank’s Country Director for Vietnam. Photo: worldbank.org “We are committed to supporting Vietnam’s drive to meet its future energy demand, and improving energy efficiency is the single best and cheapest option, because it will help consumers save energy and reduce the need for new thermal power generation while also reducing pollution and mitigating the risks of climate change,” said Mr. Ousmane Dione, the World…... [read more]
Taiwan’s Cathay United Bank is heading up a consortium of 11 banks providing the financing, the largest loan in recent years in Vietnam.The project will construct a 151 km long gas pipeline, connecting Bach Ho oil rig to Dai Hung and Thien Ung oil fields. “This is a great and urgent project, ensuring national energy security and meeting the needs for the country,” said CEO of PV Gas Do Khang Ninh.Cathay United Bank President Chen Tsu Pei said he is confident that the two sides will establish a solid and mutually beneficial relationship.... [read more]
In its press release, the Ministry of Industry and Trade (MoIT) announced that Vietnam Beverage Company Limited is the only investor to register buying 51 per cent of Sabecos shares at next week's auction.The recently established Vietnam Beverage is a wholly-owned subsidiary of Vietnam F&B Alliance Investment JSC, which is 49 per cent owned by Thai Beverage. As foreign ownership at Vietnam Beverage is below the 51 per cent threshold set by Vietnamese law, the company will join the Sabeco bidding as a domestic investor. MoIT also acknowledged this fact in the statement.Analysts pointed out that camouflaging as a Vietnamese…... [read more]
HA NOI (Biz Hub) — The Thai Beverage Public Company Limited (ThaiBev) plans to buy a stake in Viet Nam's largest brewery Sai Gon Beer (Sabeco), reported Wall Street Journal's website online.wsj.com. The website saw the move by ThaiBev, owned by Thailand's third-richest man, as an indication that foreign interest remains strong in the frontier market in Viet Nam, adding that the value of the deal will be US$2 billion.Sabeco has not yet commented on the report. However, the HCM City Securities Corporation said earlier that under the restructuring plan, the ministry of trade and industry, which owns 89 per…... [read more]
Sabeco, which owns popular brands like 333 and Saigon Beer, holds a 46 per cent share of Vietnam’s beer market, according to Euromonitor International. ThaiBev’s offer was set at the price of VND80.000 ($3.8) a share, 60 per cent higher than the market price.The Ministry of Industry and Trade (MoIT) currently owns 89.6 per cent and Heineken holds about 5 per cent of Sabeco’s total share volume. Like ThaiBev, Heineken also wants to become a strategic shareholder.According to WSJ, Singha Corporation Co., Ltd, another Thai beer and beverage company also expressed its interest in Sabeco. However, no official information on this…... [read more]
On midnight December 12, the Ministry of Trade and Industry (MoIT) has released the name of the sole bidder that registered to buy more than 25 per cent of Sabeco, commonly known as Saigon Beer. This investor is identified on the website as Vietnam Beverage Company Limited.Vietnam Beverage, just established in Vietnam in October, is a subsidiary of Thai Beverage, a major beer brand owned by Thai billionaire Charoen Sirivadhanabhakdi. The legal representative of Vietnam Beverage is Michael Chye Hin Fah, board member at Vietnam Dairy Products JSC (Vinamilk) and executive vice president at F&N, another entity controlled by Charoen…... [read more]
A production line at a Sabeco factory. The Ministry of Industry and Trade is planning to auction its stakes in Sabeco, reducing the State holdings from 89 per cent to 36 per cent. — VNA/VNS Photo Thanh Long HA NOI (VNS) — The Ministry of Industry and Trade is drawing up a plan to sell 53 per cent of its stakes in Saigon Beer-Alcohol-Beverage Joint Stock Corporation (Sabeco).In the plan, which must be submitted to the Government for approval, the shares would be auctioned and the State holdings in Sabeco would decrease from the current 89 per cent to 36…... [read more]
In the extraordinary general meeting on February 16, shareholders have dismissed many members of the board of directors and management. Specifically, the attendees have agreed to replace Vu Quang Hai by Nguyen Thanh Nam, current deputy general director of Sabeco. Chung Chi Dung, member of the management board in 2013-2018, was also replaced by Nguyen Van Minh.In the middle of June 2016, Vietnam Association of Financial Investors (VAFI) has called attention to Hai’s wrongful appointment. Hai, 29 years old, is the son of Vu Huy Hoang, former Minister of Industry and Trade. Hai used to be the leader of PetroVietnam Finance Corporation…... [read more]
