SINGAPORE (Dec 9): Beer and property do not always mix, but the family business of Thai tycoon Charoen Sirivadhanabhakdi has been busy shuffling its assets in the two industries. Besides the proposed merger of its two Singapore real estate investment trusts, its other operating company, Thai Beverage (ThaiBev), is reportedly planning a listing of its brewery business on the Singapore Exchange and seeking a valuation of US$10 billion ($10.6 billion).

While ThaiBev is known for its Chang beer, it has over the years built and acquired a sprawling portfolio of alcoholic and non-alcoholic drinks manufacturing and foodstuff manufacturing businesses.

On Nov 29, in a response via SGX to a Bloomberg report earlier that day, ThaiBev acknowledged it was exploring a potential listing, though it was still at the “early stages”. It said there was no certainty or assurance that such a move would proceed.

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