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ThaiBev beefs up stake in Vietnam F&B to 99% for US$14.7 million

FOLLOWING its purchase of a 49 per cent stake in Vietnam F&B Alliance Investment Joint Stock Company in 2017, Thai Beverage (ThaiBev) has signed an agreement to additionally acquire another 50 per cent stake in Vietnam F&B, to make up about 99 per cent of the firm.

The remaining one per cent is still held by the existing Vietnamese shareholders.

ThaiBev said it purchased the stake from an unrelated third party at 10,000 Vietnamese dong per share.

The aggregate consideration for the acquisition is 340.8 billion dong, or US$14.7 million.

Based on the unaudited financial statements for Vietnam F&B for the 12-month period ended Dec 31, 2018, both the book value and the net tangible assets of the additional shares to be acquired in Vietnam F&B were about 9,995.89 dong per share.

The acquisition is not expected to have any material impact on ThaiBev's earnings per share and net tangible assets for this financial year.

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