SMC mulls bid for Vietnam’s no.1 beer
Diversified conglomerate San MIguel Corp. is considering bidding for Vietnam’s biggest brewery, Sabeco SAB HM.
SMC president Ramon S. Ang told Reuters the group was eyeing the 54 percent stake to be bid out by Vietnam in Sabeco, which accounts for 40 percent of Vietnam’s $6.5 billion lager market.
Several foreign players, including Thai Beverage Group, Singha Corp., Japan’s Asahi Breweries, Heineken (which already holds five per cent stake in the Vietnamese state-owned beer producer) and US-based SAB Miller, earlier signified interest to invest in Sabeco.
Analysts, however, find Sabeco’s valuation too expensive at its current share price.
Vietnam, whose Communist government is divesting some of its biggest investments, is an attractive investment site given its growing middle class and young demographics.