A deal that allows global brewer Carlsberg to increase its stake in Vietnam’s second largest brewer Habeco could be finalised in November. (Source: VNA)
Hanoi (VNA) - Adeal that allows global brewer Carlsberg to increase its stake in Vietnam’s secondlargest brewer Habeco could be finalised in November.
According to Habeco Deputy General Director Vuong Toan, Carlsberg, as Habeco’sstrategic investor, already owns 17.5 percent stake in the Vietnamese brewer,including 16 percent stake purchased in Habeco’s 2009 IPO and the remainderbought on the stock market.
Under the cooperation agreement that was signed between the two firms in 2009,Carlsberg would be allowed to top the list of potential investors when Habecooffers its remaining shares for sale, Toan said at a meeting early this month.
"That is why Carlsberg has the priority in negotiations with Habeco whenthe Government approved the offloading of its stake in Habeco by the end ofthis year," he said.
Toan added that the two sides had failed to reach a new agreement onCarlsberg’s next purchase of shares in Habeco as the agreement must assure theState would receive the maximum possible revenue from the deal.
The two sides had held nine negotiations on the next deal, he said, adding thatthe final one was scheduled on November 15.
It is believed that the Danish brewer plans to possess more than 51 percent ofthe Vietnamese brewer.
However, as Habeco also operates in the real estate sector, along with food andbeverage production, the Government has not approved foreign investors topurchase more than 49 percent of the firm’s capital.
According to the local media, Habeco and Carlsberg have not reached a newagreement on the possible share price.
Habeco wants to sell its shares at a reasonable price, which would ensure fundsfor the State budget, while the Danish brewer wants to purchase more shares atHabeco’s initial public offering (IPO) price level.
Habeco’s shares started trading on the Unlisted Public Company Market (UPCoM)under code BHN in late October 2016 and moved to the HCM Stock Exchange inJanuary 2017.
BHN closed September 20’s trading at 107,000 VND (4.75 USD) per share, anincrease of 156 percent from its initial trading price level and some 100 percentfrom its IPO price in 2008.-VNA
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A deal that allows global brewer Carlsberg to increase its stake in Vietnam’s second largest brewer Habeco could be finalised in November. (Source: VNA)
