ThaiBev bids for 53.59% stake in Sabeco

The price is estimated to be at $18.96 per share.

Thai Beverage Public Company Limited (ThaiBev) submitted a bid for 53.59% of Saigon Beer - Alcohol - Beverage Joint Stock Corporation (SABECO) through its associate Vietnam Beverage Company Limited (Vietnam Beverage).

According to an announcement, Vietnam Beverage will have to submit its bid to Vietnam's trade ministry by 2 p.m. Ho Chi Minh City time on 18 December 2017.

"Vietnam Beverage’s bidding price will only be finalised and notified to the Ministry, together with the submission of its bid, on 18 December 2017," ThaiBev said.

The ministry said the estimated selling price of its owned shares in Sabeco is $18.96 (VND320,000) per share.

Singapore Business Review previously reported that ThaiBev expressed an interest to bid for the beer company and had up to 17 December to consider whether to register or not.