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HANOI, Jan 13 (Reuters) - Anheuser-Busch InBev, the world's largest beer maker, has merged Vietnam's SAB Beer after having received the approval from the Ministry of Industry and Trade, state media reported.
Vietnam, with a population of nearly 98 million, is seen as one of the most attractive markets in the region for brewers, with beer sales seen growing by about 10% per year on average for 2010-2020.
Following the trade ministry's approval, the merger took into effect from Jan. 2021 and SAB beer Vietnam would no longer exist, Vietnam News Agency (VNA) reported.
"The merged company will have the capacity and resources to operate with higher productivity and improve both competitiveness and quality in the Vietnamese market," VNA reported, citing Truong Van Toan, AB Inbev Legal and Corporate Affairs Director in Southeast Asia.
SAB's brewery will produce Budweiser and Beck's while Busch InBev factory in southern province of Binh Duong will continue to produce Hoegaarden beer and some products for Japanese and Southeast Asian markets, the report added. (Reporting by Phuong Nguyen)