ThaiBev to receive $53 million from Sabeco dividends

January 02, 2018 | 13:48

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Thai billionaire Charoen Sirivadhanabakdi, the owner of ThaiBev, will receive VND1.2 trillion ($52.84 million) from the dividend payment of Saigon Beer, Alcohol and Beverage Corporation (Sabeco), only a short while after his company completed the purchase of nearly 54 per cent stake in Sabeco.

The recent acquisition already started paying off

According to newswire Vnexpress, the Sabeco Board of Directors has approved the dividend payment plan for 2017. Accordingly, the corporation will pay VND2.24 trillion ($98.63 million) in dividends—VND3,500 per share. The payment is expected to be conducted on January 23, 2018. With holdings of nearly 53.6 per cent, ThaiBev will receive VND1.2 trillion ($52.84 million).

Vietnam Beverage is wholly-owned by Vietnam F&B Alliance Investment JSC, which is in turn indirectly owned by Beer Co., Ltd., a Hong Kong-based company wholly-owned by ThaiBev.

Ealier on December 18, Vietnam Beverage (49 per cent controlled by ThaiBev), won an auction to acquire 343.6 million shares, equivalent to 53.5 per cent of Sabeco at VND320,000 ($14.09) per share.

According to ThaiBev, the nearly $5 billion of the funds used for the deal came from loans. Notably, it borrowed $3.05 billion from local banks, including Bangkok Bank, Kasikornbank Public, Krung Thai Bank, Bank of Ayudhya, and Siam Commercial Bank, with two-year terms.

In addition, its wholly-owned subsidiary Beer Co., Ltd. borrowed another $1.95 billion from Mizuho Bank and Standard Chartered Bank’s Singapore branch.

ThaiBev finances Sabeco acquisition from loans

The entire VND110 trillion ($4.9 billion) that Vietnam Beverage Co., Ltd. spent buying 343.6 million shares of Saigon Beer, Alcohol and Beverage Corporation (Sabeco), equivalent to 53.58 per cent, came from loans.

ThaiBev submits official report on Sabeco acquisition

In a report to the Singapore Exchange, Thailand Beverage (ThaiBev) mentioned the acquisition deal of Sabeco and said Vietnam Beverage is expected to complete the payment to the Vietnamese Ministry of Industry and Trade on December 28, 2017.

ThaiBev set to buy 51 per cent of Sabeco through Vietnamese unit

Thai Beverage will bid as a domestic investor in the Sabeco stake sale as it aims to dodge the foreign ownership limit in Vietnam's leading brewery.

ThaiBev to buy 40 per cent of Sabeco

Thai Beverage (ThaiBev), owned by Thailand’s third richest man Charoen Sirivadhanabhakdi, made a $1 billion offer to buy a 40 per cent stake in Saigon Beer-Alcohol-Beverage Joint Stock Company (Sabeco), according to The Wall Street Journal (WSJ).

By By Ha Vy

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