The analysis of this deal includes 4 parts: (1) Legal structure, (2) Capital structure, (3) Sabeco valuation, and (4) Divestment strategy Transaction overview Indirect acquirer: ThaiBev – Thailand’s largest and one of SEA’s largest beverage companies Direct Acquirer: VietBev – founded in 2017 – the year the deal takes place Acquiree: Sabeco – a leading…