April 18, 2017 / 3:32 AM / 5 months ago

Vietnam's Sabeco state divestment plan submitted to the government -Sabeco CEO

HANOI, April 18 (Reuters) - Vietnam’s trade ministry has submitted a state divestment plan for the country’s biggest beer firm, Sabeco, to the government, Sabeco’s chief executive said on Tuesday.

The plan is pending government approval, Chief Executive Le Hong Xanh told shareholders at the company’s annual general meeting. He did not provide any details of the plan.

The Vietnamese government aims to fully divest its 89.6 percent stake in Sabeco, the country’s second-biggest listed firm by market value, but a clear plan has yet been announced.

The stake is worth $5.2 billion at market price. (Reporting by Mai Nguyen)

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