shareholders get 32 bln if heineken offer is approved
Last Updated : GMT 05:59:32
Arab Today, arab today
Arab Today, arab today

Shareholders get $3.2 bln if Heineken offer is approved

Arab Today, arab today

Arab Today, arab today Shareholders get $3.2 bln if Heineken offer is approved

Singapore - AFP

Singapore conglomerate Fraser and Neave (F&N) said Friday it plans to distribute Sg$4.0 billion ($3.2 billion) to shareholders if an offer by Dutch firm Heineken to buy its stake in a brewery is approved. F&N shareholders are due to vote at an extraordinary general meeting (EGM) on whether they are in favour of Heineken\'s revised Sg$5.6 billion offer for F&N\'s stake in Asia Pacific Breweries (APB), the maker of Tiger Beer. A date for the EGM has yet to be set. Heineken already owns 42 percent of APB and is seeking full control of the brewery by buying over long-time partner F&N\'s direct and indirect stake of 40 percent as it moves to expand in the fast-growing Asian beer market. The Amsterdam-based Dutch beer giant said last week it had inked a definitive agreement with F&N\'s board to \"irrevocably recommend\" the proposed deal to shareholders. In a statement issued late Friday, F&N said that if the deal is approved, \"the company intends to distribute approximately Sg$4.0 billion from the cash proceeds of the proposed transaction to shareholders.\" The cash distribution, representing 84 percent of the gains after transaction costs, will be done through a capital reduction exercise aimed at achieving a \"more efficient capital\" structure for the company, F&N said. The rest of the proceeds, or about Sg$1.6 billion, will be used to repay existing debt and strengthen the balance sheet of the F&N Group. Heineken has said the deal, if approved, was expected to be completed in the fourth quarter of this year, but no later than December 15. The Dutch brewer was forced to up its bid to Sg$5.6 billion from Sg$5.1 billion to fend off a rival party headed by Thai billionaire Charoen Sirivadhanabhakdi. Charoen\'s Thai Beverage is a key shareholder in F&N, along with Japanese brewer Kirin Holdings.

arabstoday
arabstoday

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*

shareholders get 32 bln if heineken offer is approved shareholders get 32 bln if heineken offer is approved

 



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*

shareholders get 32 bln if heineken offer is approved shareholders get 32 bln if heineken offer is approved

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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