Carlsberg, Habeco make breakthroughs in negotiations on stake sale
Carlsberg, which currently holds a 17.34% stake in Habeco, has the right of first refusal for any stake sale from the Hanoi-based beer company, expressed interest in raising the stake, but discussions have dragged for years.
Vietnam’s second-largest domestic brewer Hanoi Beer Alcohol and Beverage (Habeco) and its strategic investor Denmark’s Carlsberg have made breakthroughs in negotiations for the former’s stake sale after 13 meetings in 2018, BizLIVE reported.
Illustrative photo.
|
In a response to Hanoitimes, Carlsberg said it had no further comment at this stage.
Since 2016, the Vietnamese government has planned to divest its entire 81.79% stake in Habeco, under which the MoIT acts as state capital representative.
Carlsberg, which currently holds a 17.34% stake in Habeco, has the right of first refusal for any stake sale from the Hanoi-based beer company, expressed interest in raising the stake, but discussions have dragged for years.
The major hurdle in the negotiations is believed to be the high share price set by Habeco that exceeds Carlsberg's valuation, as such, it is vital for the two sides to work out the deal before Habeco can proceed with the further unloading of its shares on the stock market.
On this matter, in a previous response to Hanoitimes, Carlsberg's representative stressed that the company supports the government's divestment agenda, thus, "we endeavor to serve as a loyal partner for the government throughout the divestment process."
"Carlsberg has been a strategic investor since 2008 with pre-emption right. However, this does not necessarily mean that we should not pay a fair price for a state asset. We recognize that Hanoi beer brand is a good brand, Habeco is a good company, and we are willing to pay a fair price for acquiring the asset," the representative added.
Prime Minister Nguyen Xuan Phuc in last meeting with Carlsberg’s CEO Cees’t Hart in last September, said he welcomes the Danish brewer to purchase additional stake in Habeco.
Vietnam is speeding up the equitization process, which is an opportunity for foreign investors, including Carlsberg, added Phuc.
14:43, 2024/11/18
Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
The Vietnamese leader urges the aircraft manufacturer to collaborate on technology transfer, airport construction and operation, research, and investment in Vietnam.
21:55, 2024/10/22
Better links with FDI firms to support Hanoi businesses
Hanoi will continue to focus on quality projects, especially with partners such as Japan, the United States, and Europe to boost technology transfer.
15:24, 2024/09/24
Vietnam calls for more US investment in innovation, hi-tech
The Vietnamese leader called on relevant agencies to resolve any challenges faced by investors and enhance the investment climate to encourage greater US investment in Vietnam.
14:13, 2024/09/23
Vietnamese leader urges Boeing to build production facility in Vietnam
Boeing is committed to continuing to support the development of Vietnam's aviation ecosystem, focusing on aviation infrastructure, human resources training, airport construction, and aircraft maintenance facilities.
14:38, 2024/09/17
Foreign capital pouring into Vietnam's real estate market
Experts are optimistic that the 2024 Land Law, once enacted, will help resolve legal bottlenecks and attract more FDI.
16:27, 2024/08/24
Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years