The analysis of this deal includes 4 parts: (1) Legal structure, (2) Capital structure, (3) Sabeco valuation, and (4) Divestment strategy Capital sources overview With a size of US$4.8b, the biggest M&A deal ever in Vietnam was funded by 5 loans from 5 Thai banks; ThaiBev also facilitated for Beerco to borrow US$1.95b from 2…