FOOD & BEVERAGE | Staff Reporter, Singapore

ThaiBev confirms interest in bid for 25% stake in SABECO

It has until 17 December 2017 to register its bid.

Thai Beverage Public Company Limited (ThaiBev) clarified reports on its bidding for shares in Saigon Beer - Alcohol - Beverage Joint Stock Corporation (SABECO) through its associate Vietnam Beverage Company Limited (Vietnam Beverage).

News reports said it registered to buy a 25% stake in SABECO, and players like Anheuser-Busch InBev and Kirin Holdings have also been invited as potential bidders.

According to an announcement, ThaiBev only submitted a notification that it is possible it will buy 25% or more shares of SABECO instead of a registration of interest.

ThaiBev said this does not mean a commitment on the part of Vietnam Beverage to bid for any portion of SABECO's shares.

Meanwhile, it said it "has confidence in the growth potential of the Vietnam market and genuine interest in exploring investment opportunities in the country."

It clarified that Vietnam Beverage has not submitted the registration form for participating in the bid, made any bid, or reached a decision to acquire a stake in SABECO.

ThaiBev also said its associate has up to 17 December to consider whether to register or not.

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