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Foreign investors not preferred as Vietnam’s largest brewer mulls selling $1bn gov’t stake

Wednesday, April 22, 2015, 16:47 GMT+7
Foreign investors not preferred as Vietnam’s largest brewer mulls selling $1bn gov’t stake

Vietnam’s largest beer maker Sabeco is expected to reduce the stake the government possesses at the company by more than 50 percent this year, with its chairman preferring the new investor to be a domestic brewer instead of a foreign firm.

The government still holds an 89 percent stake at the Ho Chi Minh City-based company, the maker of such popular brands as 333 or Saigon Beer, and the holding could be lowered to 36 percent, according to a proposal by the Ministry of Industry and Trade.

The ministry has formed a steering board to be in charge of the reform plan. The board is expected to seek approval for its proposition from the government, as well as for the requirements to look for strategic investors for Sabeco.

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