Arab Today, arab today heineken ups bid for tiger beer maker
Last Updated : GMT 18:30:37
Arab Today, arab today
Arab Today, arab today

Heineken ups bid for Tiger Beer maker

Arab Today, arab today

Arab Today, arab today Heineken ups bid for Tiger Beer maker

The Hague - AFP

Dutch brewing giant Heineken Friday agreed to a final offer of Sg$53 a share for Singapore\'s Asia Pacific Breweries to fend off a Thai rival and gain control of Asia\'s fast-growing beer market. The Amsterdam-based group added it had inked a definitive agreement with Singapore conglomerate Fraser and Neave\'s board to \"irrevocably recommend\" the proposed deal. \"Heineken today announced it has agreed a final offer of Sg$53 per APB share for Fraser and Neave\'s entire stake in APB,\" for a total cash consideration of Sg$5.6 billion ($4.4 billion/3.6 billion euros), Heineken said in a statement. \"The total cash consideration to F&N under the final offer will be Sg$5.6 billion, an increase of Sg$307 million compared to Heineken\'s previous offer made on 20 July, 2012,\" it said. \"Heineken will not increase its final offer and believes that it provides compelling value to both F&N and APB shareholders,\" the company said. F&N which directly and indirectly owns 40 percent in APB had previously accepted an offer from long-time partner Heineken to acquire its stake for Sg$50 a share or Sg$5.1 billion. F&N\'s board accepted the offer and agreed to recommend it to shareholders, but Thai billionaire Charoen Sirivadhanabhakdi\'s Thai Beverage and a company owned by his son-in-law, Kindest Place, made rival bids. Kindest Place offered to buy F&N\'s 7.3 percent direct stake in APB for Sg$55 a share -- 10 percent more than the original Heineken proposal. At the same time, Thai Beverage has steadily built up its stake in F&N, raising it from 24 percent to 26.4 percent, giving the firm a bigger say on the Heineken offer. Both F&N and APB, the maker of Tiger Beer, requested trading to halt earlier Friday before the Singapore Exchange opened, citing a \"pending release of an announcement\" as the reason. Heineken already owns 42 percent of APB and is seeking full control in a bid to expand its presence in the fast-growing Asian market. \"When the proposed transaction is completed, the Heineken group will hold a 81.6 percent stake in APB and gain control of APB\'s business,\" Heineken said. \"I am pleased that F&N\'s board has agreed that our increased offer, which is now final, represents excellent value for F&N and APB shareholders,\" Heineken\'s chief executive Jean-Francois van Boxmeer said. In a statement issued in Singapore, F&N chairman Lee Hsien Yang added Heineken\'s new offer was for F&N\'s entire interest in APB, while Kindest Place\'s offer, \"although marginally higher than Heineken\'s on a per share basis, is only for our direct 7.3 percent stake\". \"The sale of F&N\'s stakes in APB in its entirety to Heineken at the improved price would better maximise overall returns for F&N shareholders,\" Lee said. \"If F&N shareholders approve the sale, all remaining APB shareholders will also stand to benefit from the higher mandatory offer price of Sg$53 per share,¨ he added. Heineken said the deal, if approved, was expected to be completed in the fourth quarter of the year, but no later December 15, 2012.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today heineken ups bid for tiger beer maker Arab Today, arab today heineken ups bid for tiger beer maker

 



Arab Today, arab today
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 13:11 2017 Tuesday ,21 March

Web-based counseling lowers blood pressure

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday