Vietnam approves Carlsberg to raise Habeco stake to 30pct

Vietnam has informed the Danish government that Carlsberg A/S (CABGY) can increase its stake in a government-controlled local brewery, the Vietnamese trade and industry ministry said.

In a statement over the weekend, the ministry said it had informed Danish prime minister Helle Thorning-Schmidt, who led a delegation that visited Carlsberg target Hanoi Beer Alcohol & Beverage Joint Stock Corp. on Thursday, that the Danish brewer could buy an additional stake of 13 percent in the Vietnamese company.

Carlsberg owns 17.23 percent of the local brewer, known as Habeco, and has been a strategic investor in the company since 2008, the statement said.

Unlisted Habeco produced 580 million litres of beer products in 2011 and had a profit of $48 million on revenue of $460 million, the statement added, without giving figures for comparison.

Carlsberg will buy 30.134 million shares at VND50,015 each from Habeco in a deal valued at VND1.507 trillion ($72.4 million), the Dau Tu newspaper reported Monday. The paper is published by Vietnam’s Ministry of Planning and Investment.

Habeco, which has 231.8 million outstanding shares, posted a net profit of VND237 billion during the first half of this year, down 5.4 percent year-on-year, the report said.

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