Arab Today, arab today thais boost challenge to heineken for tiger beer maker
Last Updated : GMT 23:20:06
Arab Today, arab today
Arab Today, arab today

Thais boost challenge to Heineken for Tiger Beer maker

Arab Today, arab today

Arab Today, arab today Thais boost challenge to Heineken for Tiger Beer maker

Singapore - AFP

Fraser and Neave (F&N) said Monday that Thai Beverage has raised its stake in the conglomerate, a move seen to boost its challenge to Heineken for control of Asia Pacific Breweries (APB), the maker of Tiger Beer. Thai Beverage, owned by billionaire Charoen Sirivadhanabhakdi, has been beefing up its stake in F&N amid a tussle with the Dutch brewer for APB, F&N\'s most prized asset. In a filing with the Singapore Exchange, F&N said International Beverage Holdings Ltd, a wholly owned subsidiary of Thai Beverage, has bought a total 29.53 million shares in the company. This increased the stake of Thai Beverage in F&N to 26.2 percent from 24.1 percent. Thai Beverage\'s bigger stake is important because F&N is a major owner of APB, the target of a takeover bid by Amsterdam-based Heineken. The Dutch brewer has proposed to buy long-time partner F&N\'s 40 percent direct and indirect stakes in APB for Sg$5.1 billion ($4.1 billion) or at Sg$50 a share. Heineken already holds 42 percent of APB and is seeking full control of the company in a bid to expand its presence in the fast-growing Asian beer market. F&N\'s board earlier this month accepted Heineken\'s offer and agreed to recommend it to shareholders at an extraordinary general meeting which has yet to be set. But the Thais have mounted a challenge to the Heineken bid. Kindest Place, a company owned by a son-in-law of Charoen, last week made an unsolicited offer of Sg$55 a share for the 7.3 percent stake in APB held directly by F&N, or 10 percent higher than Heineken\'s offer. Kindest Place already holds 8.6 percent of APB. At the same time, Charoen\'s Thai Beverage has also been gradually building its interest in F&N since July, giving it a bigger say on Heineken\'s offer. The other major shareholder in F&N is Japanese brewer Kirin Holdings. Apart from Tiger, brands like Thai Beverage\'s Chang Beer, San Miguel from the Philippines and Indonesia\'s Bintang, also owned by APB, are competing with Heineken, Denmark\'s Carlsberg and other brands from developed economies.

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 thais boost challenge to heineken for tiger beer maker Arab Today, arab today thais boost challenge to heineken for tiger beer maker

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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