VietNamNet Bridge - According to the Wall Street Journal, Thai Beverage – owned by billionaire Charoen Sirivadhanabhakdi – wants to buy shares of SABECO, the country's largest brewer.

Saigon Beverages Corporation (Sabeco) is evaluated at $2 billion by ThaiBev, which owns two brands Chang Beer and Thai Oishi green tea in Thailand. Earlier, Berli Jucker, also owned by Charoen Sirivadhanabhakdi, bought the Metro Cash & Carry supermarket chain in Vietnam for $848 million.

Also according to the Wall Street Journal, a government official said SABECO will establish a committee to restructure the company and sell a maximum 53% stake to one or more strategic investors. The government currently owns 89% of this company. According to Euromonitor, SABECO holds 46% of the Vietnam beer market with the brands such as 333 or Saison Beer.

Mr. Phan Dang Tuat, SABECO Chair, said the corporation had received the proposal but the decision entirely belongs to the Ministry of Industry and Trade (the agency that was assigned to manage 89% stake of SABECO).

"If the State decides to restructure SABECO and sell up to 53% of stake to foreign partners, we will follow. However, the corporation’s value is more than $2 billion," said Mr. Tuat.

Before SABECO, another company owned by the Thai billionaire - Fraser & Neave drinks - failed to acquire a brewery in Myanmar. Fraser & Neave was acquired by the billionaire in 2011 for $11 billion. Earlier this year, Frasers Centerpoint - a real estate company of Charoen - also offered $2.4 billion to buy an Australian real estate firm.

Euromonitor said the size of the Vietnam beer market increased by 11% last year and is expected to grow 9.6% next year. According to SABECO, the company sold 649.8 million liters of beer in the first half of 2015, an increase of 4% compared to the same period last year and earned revenue of VND14.3 trillion ($680 million).

Previously, the Vietnam Government had planned to sell shares in this company to strategic investors but it was delayed because of procedural issues.

Charoen Sirivadhanabhakdi was born in 1944. He is a native of Guangdong, China. In a rankings issued by Forbes in June, he is the third richest man in Thailand with total assets of $11.3 billion. In Vietnam, he manages the 5-star hotel Melia Hanoi via TTC Land Corporation, and has not disclosed the percentage of shares.

Na Son