ThaiBev nears to buy 25 percent of Sabeco

A unit of Thai Beverage has emerged as the only prospective bidder for state-owned shares in Sabeco that has declared that it could lead to it owning 25 percent or more of Vietnam’s biggest brewer.

The auction of up to 54 percent of Sabeco worth at least $5 billion, in what is set to be Vietnam’s biggest privatization, offers brewers access to a fast-growing market with a youthful population and beer drinking culture.

Other brewing groups including Anheuser-Busch InBev and Kirin Holdings have been preparing to bid for a stake.

Foreign ownership in Sabeco is limited to 49 percent. That means overseas bidders can only bid for a minority stake of as much as 39 percent as foreign entities already own 10 percent.