Dutch brewer Heineken said Friday it has reached a deal to buy Asia Pacific Breweries (APB) -- the makers of Tiger beer -- for Sg$5.1 billion ($4.1 billion). Heineken said Singapore-listed Fraser & Neave (F&N) has accepted its offer to acquire its stake in APB. It said the F&N board has agreed to recommend the deal to shareholders. Heineken currently owns 41.9 percent of APB, one of Southeast Asia's biggest brewers, while F&N holds 40 percent. In a statement released in Amsterdam, Heineken said it had offered to buy all of F&N's shares in APB for Sg$50 apiece, a premium of 45 percent over the one-month volume weighted average price per share, for a total of Sg$5.1 billion. "The board of F&N has agreed to recommend to the shareholders of F&N to vote in favour of the proposed transaction at the relevant shareholders' meeting," the statement said. "The agreement is subject to successful negotiation and execution of definitive transaction documents between Heineken and F&N." Heineken had earlier said that a takeover of APB would give it direct access to markets including Cambodia, China, Indonesia, Malaysia, New Zealand, Papua New Guinea, Singapore, Thailand and Vietnam. Analysts have said that Heineken's offer could spark a takeover battle with Thai and Japanese investors for control of APB, which makes Tiger beer and other brands that are popular across Asia, including the Chinese market.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor