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Thai Beverage acquires 49% of Vietnam F&B
THAI Beverage Public Company has acquired a 49 per cent stake (see amendment note) in a Vietnamese management consultancy firm for 98 million Vietnamese dong (S$5,794).
This makes the firm, Vietnam F&B Alliance Investment Joint Stock Company, an indirect associated company of Thai Beverage.
In an exchange filing on Wednesday evening, the group said that its indirect wholly-owned subsidiary BeerCo Ltd purchased the stake from a third party shareholder.
Vietnam F&B was incorporated on Sept 27 this year for the purpose of management consultancy and investment holding activities.
The acquisition was funded through internal cashflows, and is not expected to have any material adverse impact on Thai Beverage's earnings per share or net tangible assets per share for the current financial year.
Amendment note: The story has been revised to reflect that Thai Beverage does not own the other 51 per cent of Vietnam F&B.