Arab Today, arab today heineken completes acquisition of fn stake in apb
Last Updated : GMT 08:52:09
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Heineken completes acquisition of F&N stake in APB

Arab Today, arab today

Arab Today, arab today Heineken completes acquisition of F&N stake in APB

The Hague - AFP

Dutch beer giant Heineken said Thursday it had completed its acquisition of Fraser and Neave\'s (F&N) share of Asia Pacific Breweries (APB) as part of the takeover of brand Tiger Beer. \"As a result Heineken currently owns in aggregate a 95.3% stake in APB and will consolidate APB into its accounts in November 2012,\" the brewer said in a statement. The company said it would also make an offer for the remaining shares in APB that it does not already own. F&N shareholders in September approved Heineken\'s offer of Sg$5.6 billion (3.6 billion euros) for its 40 percent stake in APB, which has breweries in 14 markets including China. Amsterdam-based Heineken is seeking to boost sales in fast-growing Asian economies as demand falls in mature markets like Europe, where a prolonged financial crisis is dampening consumer spending.  

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