A Sabeco beer factory in Dak Lak province's Buon Me Thuot city. (Photo: biasaigonmt.com)Hanoi (VNS/VNA) - Thailand’sThai Beverage Public Co Ltd has denied it is seeking potential investors to buyits business in Vietnam.
Articles published by theinternational press and local news media in Vietnam have in recent weeksclaimed the Thai beverage firm, known as ThaiBev, is seeking a buyer for itsVietnamese business.
ThaiBev President CharoenSirivadhanabhakdi planned to launch an IPO for the company’s beer division onSGX for around 12 billion USD, international press reported in late November.
The listing of the group’s beerdivision sparked speculations on the market that ThaiBev was seeking ways toexit from the Vietnamese firm Saigon Beer-Alcohol-Beverage Corporation (Sabeco).
But the claims “are false andwithout merit,” the company confirmed in an announcement sent to the SingaporeExchange Securities Trading Limited (SGX) on December 18.
ThaiBev, through its subsidiaryVietnam Beverage Co Ltd, “is confident in its business in Vietnam and remainsstrongly committed to making Sabeco and Bia Saigon the pride of Vietnam,” thecompany said.
“Vietnam continues to be one ofThaiBev’s core markets and is integral to its goal of becoming a stable andsustainable leader in Southeast Asia’s beverage industry.”
The company also emphasisedthat the listing of its beer business “is still at an early stage and there isno certainty or assurance that any such transaction will occur.”
ThaiBev will make furtherappropriate announcements to provide material developments that warrantdisclosure in accordance with relevant Thai and Singaporean regulations, itsaid.
The company also warnedshareholders and investors to “exercise caution and seek appropriateprofessional advice” before dealing in the company shares and securities, and“refrain from taking any action in respect of their investments which may beprejudicial to their interests.”
ThaiBev in December 2017purchased nearly 54 percent of capital in Sabeco from Vietnam’s Ministry ofIndustry and Trade (MoIT) for approximately 5 billion USD.
After the deal, MoIT holdsnearly 36 percent at the largest local brewer by market value.
In the first nine months of2019, Sabeco posted 28.3 trillion VND (1.22 billion USD) in combined revenueand 4.28 trillion VND (184.6 million USD) in combined post-tax profit.
The earnings figures were up10.5 percent and 23 percent on-year, respectively. After nine months, Sabecofulfilled 73 percent and 91 percent of its full-year earnings targets,respectively.
Sabeco shares (HoSE: SAB) endedDecember 19 flat at 233,000 VND (10.06 USD) per share./.
VNA
