Masan has a thirst for beer

April 19, 2013 | 13:00

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Vietnam’s Masan Group is in discussion to acquire a controlling stake in Phu Yen Beer and Beverage Company.

Masan would disclose further details when the transaction is completed, said S. Venkatesh, head of group investor relations.

Phu Yen Beer and Beverage Company in has 50 million litres of annual brewing capacity.

The whole transaction was expected to be about $12 million, said Venkatesh. The deal is expected to be closed in the next one month, and is subject to customary corporate and regulatory approvals.

A Masan report said the group, after the end of 2012, provided its subsidiaries with VND252 billion ($12 million plus) to buy in a brewery. The report did not give a brewery name.

Consumer goods, mining and banking are Masan Group’s core businesses. Its subsidiary Masan Consumer has bought into iconic Vinh Hao Mineral Water, Vinacafe Bien Hoa, and French-invested animal feed maker ProConco.

By Tuong Thuy

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