VIETNAM: Government to sell off stake in Sabeco

By | 11 December 2006

The Vietnamese government is to sell off shares in state-owned drinks company Saigon Beer Alcohol Beverage Corp. (Sabeco).

The government plans to reduce its stake to 80% by the end of next year, with the remaining 20% going to Sabeco employees or private interests. The authorities then plan to cut their stake still further to 51% over the next few years, local reports late last week said. No time frame for the sale was given.

Sabeco holds around a third of Vietnam's fast-growing beer market and produces a stable of brands including Sai Gon and 333.

Two years ago, the Vietnamese government signed a deal with Anheuser-Busch on co-operation in the country's beer market.

The Vietnamese beer market has grown by around 15% over the last two years to 15m hectolitres and has attracted investment from SABMiller, Carlsberg and Asia Pacific Breweries.

Sectors: Beer & cider

Companies: Anheuser-Busch, SABMiller, Carlsberg

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