Thai Beverage, a maker of wide range of branded beer and spirits in Thailand, said its unit BeerCo bought a 49 percent stake in Vietnamese management consultancy firm for 8 million Vietnamese dong (S$5,794).
Thai Beverage already owned 51 percent stake in Vietnam F&B Alliance Investment Joint Stock Co. With this deal, Vietnam F&B becomes an indirect subsidiary of Thai Beverage.
The stake was purchased from a third party shareholder, the company said in a regulatory filing on Thursday.
The acquisition was funded through internal cashflows, and is not expected to have any material adverse impact on Thai Beverage's earnings per share or net tangible assets per share for the current financial year.
Shares in Thai Beverage were unchanged at S$0.97 on the Singapore Exchange. The stock has risen 15 percent over an year.