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F&N gets US$7.2b overture
Source: Agencies |
September 14, 2012, Friday
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Print Edition
Print Edition
THAI Beverage said yesterday it is offering US$7.2 billion for control of Asian drinks conglomerate Fraser & Neave Ltd, stepping up a battle with Heineken NV for ownership of Tiger Beer and other popular regional brews.
The Thai firm, controlled by billionaire Charoen Sirivadhanabhakdi, is offering to pay S$8.88 (US$7.22) a share for the 70 percent of Singapore-listed F&N it doesn't already own, or a total of S$8.8 billion.
Charoen and Heineken have been vying for control of the Tiger Beer brewer, Asia Pacific Breweries Ltd, which is jointly owned by F&N and Heineken.
Heineken last month raised its offer for a controlling stake in APB to US$4.5 billion after Thai Beverage bought sizeable stakes in APB and F&N.
The Thai firm, controlled by billionaire Charoen Sirivadhanabhakdi, is offering to pay S$8.88 (US$7.22) a share for the 70 percent of Singapore-listed F&N it doesn't already own, or a total of S$8.8 billion.
Charoen and Heineken have been vying for control of the Tiger Beer brewer, Asia Pacific Breweries Ltd, which is jointly owned by F&N and Heineken.
Heineken last month raised its offer for a controlling stake in APB to US$4.5 billion after Thai Beverage bought sizeable stakes in APB and F&N.
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