SINGAPORE: Fraser & Neave battle drags on as TCC extends deadline

By | 10 January 2013

The tussle for F&N is continuing

The tussle for F&N is continuing

ThaiBev's TCC Assets, has extended its offer deadline for Fraser & Neave for a fifth time. 

In a filing today (10 Janaury), TCC, owned by Thai billionaire Charoen Sirivadhanabhakdi, said it has set a new deadline of Tuesday (15 January) for its SGD9bn (US$7.36bn) bid for the Singapore conglomerate. The previous deadline was today.

Sirivadhanabhakdi, who holds a 35% stake in F&N, is battling with Singapore property group Overseas Union Enterprise (OUE) for the conglomerate.

OUE has submitted a higher bid of SGD13.1bn (US$10.7bn) and last week extended its offer deadline until next Monday (14 January).

If the OUE bid is successful, Japan's Kirin Holdings has agreed to acquire F&N's food & beverage business for SGD2.7bn.

Expert analysis

Carbonated Soft Drinks in Asia-Pacific

Carbonated Soft Drinks in Asia-Pacific industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Asia-Pacific carbonated soft drinks market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Sectors: Mergers & acquisitions, Soft drinks

Companies: Kirin

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