Heineken NV won full control of the maker of Tiger beer in a S$7.9 billion ($6.4 billion) deal on Friday, ending a two-month battle aimed at strengthening the Dutch brewer's position in fast-growing Asian beer markets. Shareholders of Singapore conglomerate Fraser and Neave Ltd (F&N) backed the sale of their stake in Asia Pacific Breweries (APB) to the world's third largest brewer.
Their vote ended the battle between Heineken and companies linked to Thai billionaire Charoen Sirivadhanabhakdi for control of APB, which operates 30 breweries across 14 countries from Mongolia to New Zealand. The spotlight is now on a $7.2 billion bid by Charoen for the rest of F&N, through Thai Beverage PCL and TCC Assets Ltd. The Thais control 30.7 percent of F&N, which will remain a large player in property and soft drinks. Heineken, which already owned nearly 56 percent of APB through an 81-year-old venture with F&N, had sought full control of the brewer to ward off the advances of Charoen, whose family's companies became F&N and APB shareholders in July.
Comments
Comments are closed.