Vietnam: Country’s 2nd largest brewer Habeco to privatise
The Vietnamese government has approved a plan to privatise and list the Hanoi Beer Company, the country's second largest brewer, to raise money to increase production, a government report said on Wednesday, January 24, according to Reuters.
Less than 10 percent of the compnay known as Habeco would be sold to a foreign investor and shares would be listed on one of the country's two stock exchanges, said the report published on the government Web site (www.vietnam.gov.vn).
"The state will retain 76 percent of the company at the time of the initial public offering, but this stake will be reduced to no less than 51 percent later," it said.
Industry sources said Denmark's Carlsberg was interested in buying a stake in Habeco, whose best-selling brand is Bia Hanoi.
Habeco, which has a registered capital of 2 trillion dong ($124 million), signed a cooperation agreement with Carlsberg in 2005.
Vietnam's beer market, averaging 8 percent growth per year, has attracted the interest of a string of foreign brewers, including Anheuser-Busch , the owner of the Budweiser brand, and Belgium's Inbev .
State-run Saigon Beer, or Sabeco, the country's largest brewer, has also announced plans to partly privatise.
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