Heineken agrees US$4b-plus APB takeover deal: report
SINGAPORE - Global brewer Heineken has reportedly agreed a US$4 billion-plus deal to take control of Asia Pacific Breweries (APB) by agreeing to buy a stake in the Singapore-based brewer from partner Fraser and Neave (F&N).
A Reuters report quoted sources with knowledge of the situation as saying this.
"The deal has been agreed by Heineken and F&N's management, and the agreement will now go for approval by the F&N board and then be announced officially," said one of the sources, according to Reuters.
F&N has major soft-drink and dairy assets, book publishing and printing operations, condominiums, commercial property and serviced apartments, in addition to beer.
Heineken and F&N have been long-time partners in Asia. Heineken currently owns 41.9 percent of APB, while F&N holds 40 percent.
Kirin Holdings of Japan owns 15 percent of F&N and has been mentioned by analysts as a potential bidder for the Singapore group's assets along with Thai Beverage.
On July 20, Heineken offered S$50 a share for F&N's entire stake in APB.
Heineken's offer came after companies linked to Thai billionaire Charoen Sirivadhanabhakdi secured separate deals to buy a 22 percent stake in F&N and a 8.6 percent stake in APB.
Charoen's Thai Beverage has since moved to raise its stake in F&N to 23.9 percent.
- CNA/ir
Posted: 03 August 2012 1811 hrs
SINGAPORE - Global brewer Heineken has reportedly agreed a US$4 billion-plus deal to take control of Asia Pacific Breweries (APB) by agreeing to buy a stake in the Singapore-based brewer from partner Fraser and Neave (F&N).
A Reuters report quoted sources with knowledge of the situation as saying this.
"The deal has been agreed by Heineken and F&N's management, and the agreement will now go for approval by the F&N board and then be announced officially," said one of the sources, according to Reuters.
F&N has major soft-drink and dairy assets, book publishing and printing operations, condominiums, commercial property and serviced apartments, in addition to beer.
Heineken and F&N have been long-time partners in Asia. Heineken currently owns 41.9 percent of APB, while F&N holds 40 percent.
Kirin Holdings of Japan owns 15 percent of F&N and has been mentioned by analysts as a potential bidder for the Singapore group's assets along with Thai Beverage.
On July 20, Heineken offered S$50 a share for F&N's entire stake in APB.
Heineken's offer came after companies linked to Thai billionaire Charoen Sirivadhanabhakdi secured separate deals to buy a 22 percent stake in F&N and a 8.6 percent stake in APB.
Charoen's Thai Beverage has since moved to raise its stake in F&N to 23.9 percent.
- CNA/ir
