Fraser and Neave postpones decision on Asia Pacific Breweries stake until Friday
Heineken’s offer of 50 Singapore dollars (US$40.08) a share for the stake of its joint-venture partner, Fraser & Neave Ltd., in Asia Pacific Breweries was a defensive move to protect the Dutch brewer’s turf, coming after companies linked to Thai tycoon Charoen Sirivadhanabhakdi bought a 22% stake in the Singaporean conglomerate and an 8.6% stake in APB. Meanwhile, Japan-based Kirin Holdings Co. —which acquired a 15% stake in F&N in 2010—is considering a bid for the group’s soft-drink and dairy assets. F&N has postponed a decision on Heineken’s offer until Friday.
via Wall Street Journal.
Breweries: Heineken
