sabeco thai beverage
Sabeco's Saigon beers are display for sale in a market in Hanoi, Vietnam. Reuters

Brewing group Thai Beverage emerged as the sole bidder willing to spend more than $2 billion for a stake in Saigon Beer Alcohol Beverage Corp.

A unit of ThaiBev is the only investor to register to buy at least a 25 percent stake in Vietnam's largest beer company known as Sabeco, according to the Vietnam trade ministry's website.

The closing date for registration for a stake of more than 25 percent was on Monday, though other companies can still bid for less than that amount at the December 18 auction.

Thai Beverage, Anheuser-Busch InBev and Kirin Holdings were preparing to bid for a stake in Vietnam's largest brewer, Sabeco, Reuters reported on Sunday.

Sabeco is seen as attractive as assets are scarce in a highly consolidated global beer market.

Thai Bev, controlled by tycoon Charoen Sirivadhanabhakdi, is shaping up as a strong contender, the report said, as it is familiar with the Vietnam system and sees Sabeco as key to expanding outside its home market.

Shares in Thai Beverage last traded at S$0.95 on the Singapore Exchange before the trading halt was requested pending an announcement. The stock has gained 16 percent in an year.