ThaiBev representatives join Sabeco beer board

(April 23): Shareholders of Vietnam's largest brewer Sabeco voted to add three representatives of Thai Beverage to its management board, a Sabeco source and local media said.

ThaiBev, which has a more than 50% stake in Sabeco -- formally known as Saigon Beer Alcohol Beverage Corp, complained to the Vietnamese government earlier this year that its proposed board members for Sabeco had not been accepted.

However, last month, a senior financial executive at Sabeco had said that ThaiBev's proposed members would be able to join the board and that the process had been delayed due to "complicated procedures".

---

Related Stories

• F&N full year earnings down 2% to $150.4 mil
• ThaiBev is tempting Budweiser with a Saigon brew
• Venture, Hi-P and ThaiBev win on earnings growth, share price gain and ROE respectively

---