ThaiBev stays course in Vietnam to regain regional market lead

CEO wants Hanoi to sell 36% stake in Sabeco on public exchanges

ThaiBev Group CEO Thapana Sirivadhanabhakdi said he would like to see the Vietnamese government sell more of its 36% stake in Sabeco to the public. (Photo by Francesca Regalado)

FRANCESCA REGALADO, Nikkei staff writer

September 27, 2022 18:49 JST

BANGKOK -- Thai Beverage Group will not be letting go of its "crown jewel," Vietnam's Sabeco Brewery, especially as beer consumption is recovering in the booming economy.

The Thai liquor giant on Tuesday sought to quash rumors that have plagued it since its 2017 acquisition of beermaker Sabeco. At the company's annual press conference, executives said ThaiBev was well-positioned to reclaim its lead in Southeast Asia through Sabeco, which controls 40% of Vietnam's beer market.