Vietnam govt to sell its stake in country's two top breweries

Hanoi

VIETNAM'S government has said that it will fully divest from its two biggest breweries and target raising US$2.2 billion over the next 16 months, loosening its tight grip over one of Asia's most sought-after beer markets.

The decision seeks to end years of uncertainty and government flip-flopping about how much of unlisted brewers Habeco and Sabeco the state was willing to part with. The stakes will be auctioned and both domestic and international investors can bid.