Tags: heineken | offer | singapore | apb

Heineken Makes $4.1 Billion Offer for Singapore's APB

Thursday, 19 Jul 2012 08:21 PM

Heineken NV has bid S$5.1 billion ($4.1 billion) for Asia Pacific Breweries, offering to buy Fraser and Neave's stake and other ordinary shares it does not already own as a Thai billionaire competes for control.

The Dutch brewer will make a mandatory general offer for all shares of Singapore-based APB in does not own at a price of S$50 a share, the brewer said in a statement in Amsterdam.

Heineken has also offered S$163 million for F&N's interest in the non-APB assets held by Asia Pacific Investment Private Ltd, a 50/50 joint venture between Heineken and F&N.

The offer comes two days after companies linked to Thai drinks and property tycoon Charoen Sirivadhanabhakdi bought F&N and APB shares from Singapore's No.2 bank OCBC for $3 billion.

That put pressure on Heineken to protect its investment in APB, with which it makes the popular Tiger beer.

Credit Suisse and Citigroup are advising Heineken. ($1 = 1.2541 Singapore dollars)

© 2017 Thomson/Reuters. All rights reserved.

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