![#](https://e-malt.com/Images/left_top_corner16x200.gif) | E-Malt.com News article: Vietnam: Vietnam urges Habeco and Sabeco brewers to dilute state ownership![Brewery news](https://e-malt.com/Images/BeerBullet2.gif)
Vietnam has urged its major businesses, including the two biggest beer producers Habeco and Sabeco and leading dairy firm Vinamilk, to dilute state ownership. In the private sector, VinaCapital and Shinhan BNP Paribas Asset Management have joined hands to enable Korean investors to participate in the Vietnam market, DEALSTREETASIA reported on August 31.
Vietnam’s new Prime Minister has announced the intention to publicly list the country’s two largest brewers, Sabeco and Habeco, before the state divests its controlling stakes in these businesses, according to a government report.
The move will assure transparency, said the report, which added that there will be no distinction between domestic or international buyers as the state sells stake in the beverage majors.
However, the government portal also clarified that it will retain the local brands of Habeco and Sabeco, along with dairy product firm Vinamilk, the country’s largest company by market capitalization.
DEALSTREETASIA reported earlier that the Vietnamese industry and trade ministry had planned to list Sabeco on the Ho Chi Minh City Stock Exchange, after the decision to sell a 53 per cent stake in one tranche, to trim the holding to a minority of 36 per cent.
Nine local and foreign companies have reportedly expressed their interest in the stake, valued up to $1 billion, including Thai Beverage, Singha Corp, Asahi Breweries, SAB Miller and Sabeco’s existing shareholder Heineken.
For Habeco, in which the ministry has 82 per cent, the state is contemplating a reduction of stake to below 50 per cent.
The government portal also cited Prime Minister Nguyen Xuan Phuc as saying that Vietnam’s sovereign fund SCIC had to swiftly exit its holdings in 10 major businesses, including Vinamilk. “Although the state ownership in Vinamilk is less than 50 per cent (currently 45 per cent), it is still a great percentage,” Phuc reportedly said.
30 August, 2016
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