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HOMEHeineken continues battle for Tiger
By The Holland Times Thu. 16 August 2012
The struggle between Heineken and Thai Beverage for control of Asia Pacific Breweries (APB), the maker of Tiger Beer, has intensified as the Asian company has increased its stake in Fraser and Neave (F&N), the conglomerate that owns APB.
In a filing with the Singapore Exchange, F&N said International Beverage Holdings Ltd, a wholly owned subsidiary of Thai Beverage, has bought a total 29.53 million shares in the company. This increased the stake of Thai Beverage in F&N to 26.2 percent from 24.1 percent.
Dutch beer giant Heineken has proposed to buy long-time partner F&N's 40 percent direct and indirect stakes in APB for 5.1 billion Singapore dollars (3.3 billion euro) or at 50 Singapore dollars a share.
Heineken already holds 42 percent of APB and is seeking full control of the company in a bid to expand its presence in the fast-growing Asian beer market.
The increasing stake controlled by Thai Beverage in F&N gives owner and Asian beer magnate Charoen Sirivadhanabhakdi more of a say in whether Heineken's bid for APB will be accepted.
(Photo: William Cho)
