Tobacco giant offloads entire 29% share to Sapporo Holdings as part of divestment plans.
The State-owned tobacco corporation Vinataba has transferred its entire 29 per cent holding in Sapporo Vietnam to Sapporo Holdings Ltd from Japan. Though the cost was not officially announced, according to Nikkei Asia Review, the Japanese company is believed to have spent about $8.28 million on the purchase.
Sapporo Vietnam was established in 2010 as a joint venture between Vinataba and Sapporo Holdings.
According to Vinataba, the divestment follows a government-directed policy on State-owned enterprises withdrawing capital from non-core business sectors. Vinataba will record a profit from the deal and has committed to maintaining relationships and support to Sapporo Holdings.
On an area of 6.5 ha at the Viet Hoa - Duc Hoa Industrial Park in Duc Hoa district in the Mekong Delta province of Long An, the Sapporo Vietnam Brewery planned to have a production capacity of 40 million liters per year in the first phase, 100 million liters in the second phase (2015), and up to 150 million liters during the third phase (2019). It produces 330ml bottles and cans of Sapporo Premium Beer, 650ml cans of Sapporo Premium Beer, and 20 liter kegs.