Heineken, ThaiBev and TCC Assets jointly announced on Tuesday a compromise in the companies’ bidding war for Fraser & Neave’s stake in Asia Pacific Breweries, maker of Tiger Beer.

ThaiBev and TCC Assets now formally support Heineken’s bid for the stake provided that Heineken does not make an offer for Fraser & Neave itself.

The move sets the stage for Fraser & Neave shareholders to approve Heineken’s offer of nearly $5 billion. If approved, the acquisition will give Heineken a valuable asset (in Tiger Beer) with which to play in the Asian beer market.

Below is the original press release…if you can make any sense of it.

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Thai Beverage Public Company Limited (“ThaiBev”), TCC Assets Limited (“TCCA”) and Heineken N.V. (“HEINEKEN”) wish to announce the following in connection with the proposed disposal (the “Disposal”) by Fraser and Neave, Limited (“F&N”) of its interests in Asia Pacific Breweries Limited and Asia Pacific Investment Private Limited to Heineken International B.V. (as contemplated in Resolution 1 (“Resolution 1”) set out in the Notice of Extraordinary General Meeting to be held on 28 September 2012 (or any adjournment thereof to consider Resolution 1) (the “F&N EGM”), attached to the circular to shareholders issued by F&N on 6 September 2012 in connection with the Disposal):

ThaiBev irrevocably undertakes to procure that International Beverage Holdings Limited (“IBHL”) votes all the shares in F&N held, owned or controlled by IBHL at the time of the F&N EGM in favour of Resolution 1;

TCCA irrevocably undertakes to vote all the shares in F&N held, owned or controlled by TCCA at the time of the F&N EGM in favour of Resolution 1; and HEINEKEN irrevocably undertakes not to make a general offer for shares in F&N under the Singapore Code on Take-overs and Mergers.