Sabeco shared last month its business was beginning to regain momentum after suffering from the impact of the COVID-19 pandemic and tough local drink-driving laws earlier this year.
However, the process to sell off remaining stake will still materialise. The Ministry of Industry and Trade will further the transfer of the stake to the state-owned State Capital Investment Corp (SCIC) by the end of August to pave the way for the sale, the documents stated.
A Sabeco spokeswoman said the brewer had no immediate comment on the issue.
Apart from Sabeco, the government is also seeking to sell all or part of its stakes at more than 150 other companies, including Vietnam National Petroleum Group PLX.HM and Vietnam Airlines HVN.HM, according to the document released.
The government in 2017 sold a 53.59% stake in Sabeco to ThaiBev through a local entity for $4.84 billion. A year later, Sabeco, known for Bia Saigon and 333 brews, removed the foreign ownership limit at the company.