Government sells stake in Vietnam's largest brewery

A beer production line of Sabeco. In the second quarter, Sabeco achieved more than VNĐ7.1 trillion in net revenue, VNĐ1.2 trillion in post-tax profit, both down by 21 per cent over the same period of 2019. — Photo the courtesy of Sabeco

HANOI (Vietnam News/ANN): The Ministry of Industry and Trade late last week transferred the State ownership in Saigon Beer Alcohol Beverage Corp (Sabeco) to the State Capital Investment Corporation (SCIC).

The value handed over to SCIC was more than VNĐ2.3 trillion (US$99.3 million), accounting for 36 per cent of Sabeco’s charter capital, or more than 230 million shares.