Government Sells Shares In Sabeco

The Vietnamese government has announced that it will sell shares in the state-owned drinks company Saigon Beer Alcohol Beverage Corp (Sabeco). It will reduce its stake to 80% by the end of 2007 -the remaining 20% going to company employees or private interests - with the eventual aim of cutting government ownership to 51% in the next few years. Sabeco, which has VND5.5 trillion (US$343.75mn) in chartered capital, is wholly owned by the Vietnamese government. The company holds 34% of the domestic beer market, and produces about 550mn litres of beer a year under its Sai Gon, 333, Green Sai

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