ThaiBev unit registers to bid for Sabeco; to price offer initially estimated at US$4.8b

THAI Beverage Public Co's (ThaiBev) Vietnamese drinks unit has registered to bid for a 53.59 per cent stake in Saigon Beer-Alcohol-Beverage Joint Stock Corp (Sabeco), and will price its bid by 3pm on Monday, Singapore time, the food and drink group announced before today's market opening.

ThaiBev's associated company, Vietnam Beverage, had earlier indicated its interest in acquiring a stake in Sabeco. Other companies that have expressed interest in bidding for Sabeco include Anheuser-Busch InBev and Asahi Group Holdings.

The Vietnamese government, which is selling the shares, had earlier provided initial price guidance of 320,000 dong per share, which could make Vietnam Beverage's bid worth about US$4.8 billion.

ThaiBev has halted trading in its stock.