US$4 billion loan ready for Sabeco investors to attend its auction

According to Merger Market sources, foreign banks have completed the procedures to provide a US$4 billion loan to Sabeco investors for the next week auction.

Of the ten international banks arranging the capital for this deal, Thai ones contribute from US$2 to US$3 billion.

Sabeco, Vietnam's largest brewer, will auction 53.59% of state-owned stake on December 18th. The offering price is VND320,000 (about US$14.1) per share.

Foreign investors are allowed to acquire up to 38.59% of Sabeco's stake. Given the offering price, foreign investors can buy US$3.6 billion worth of shares.

Among foreign corporations as the potential buyers, the billionaire Charoen Sirivadhanabhakdi’s Thai Bev is being rated the highest.

Other investors interested in Sabeco auctions include AB InBev of Belgium, Heineken of the Netherlands and Carlsberg of Denmark. Heineken holds about 5% of Sabeco's shares for years before the IPO.

Two Japanese corporations, Asahi, and Kirin, also expressed interest in Sabeco, but Kirin's leaders said Sabeco’s share price is too high.

Sabeco’s IPO took place many years ago, but the State still holds a nearly 90% stake. Before this auction, most of the shares in the market were purchased by foreign investors.

Investors who want to buy 25% or more of the shares must notify the authority one week before (which means December 11th).

SAB’s price has fallen in five recent sessions, from VND330,000 (about US$14.1) to VND293,000 (about US$12.92) per share.