December 18, 2017 / 8:17 AM / 2 years ago

Thai Beverage unit wins auction to buy 54 percent stake in Sabeco

Bottles of Sabeco's Saigon beer are seen at a restaurant bar in Hanoi, Vietnam December 18, 2017. REUTERS/Kham

HO CHI MINH CITY (Reuters) - A unit of Thai Beverage (TBEV.SI) won the auction to buy a $5 billion or 54 percent stake in top brewer Sabeco SAB.HM in the country’s biggest ever privatization process, an official from the Ho Chi Minh City Stock Exchange said on Monday.

The anticipated sale of the state-owned maker of Bia Saigon gained momentum in recent months. Thai Beverage emerged as the only buyer for a majority stake as global brewing groups stayed out of the auction.

Reporting by Mai Nguyen; Editing by Tom Hogue

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