Vietnam Government To Sell Beer Shares

Vietnam’s largest brewer, Sabeco, is selling a 53% government stake in the company to private investors. The Ministry of Industry and Trade has apparently submitted plans to the prime minister for approval, the sale will see the government’s share in the Saigon Beer Alcohol Beverage (Sabeco) cut to 36%. According to Thanh Nien News, the company chairman, Phan Dang Tuat, said: “All the shares will be auctioned. But we haven’t decided on a price yet.” The news will excite local and foreign investors, many of whom have been waiting for further shares to become available since Sabeco went public in 2008.