SINGAPORE: Fraser & Neave drops Heineken soft drinks non-compete clause
Heineken took full control of APB last year
Fraser & Neave has agreed to drop a clause in an agreement with Heineken that has prevented the brewer from selling soft drinks in Singapore, following a competiton probe.
The condition was included when Heineken moved to acquire F&N’s 50% stake in Asia Pacific Breweries last year. The non-compete clause was due to expire in November 2014, but F&N has agreed to cancel it a year early.
The move, announced in a filing today (4 November), came about after a “mutual agreement” between F&N and the Competition Commission of Singapore (CCS).
The commission said today that it had started an investigation into the clause in January this year. But now that F&N has acted, it said it has stopped its probe, but “will continue to closely monitor market practices in the local soft drinks market”.
It added: "For the avoidance of doubt, F&N’s voluntary undertaking was not an admission of liability on its part, and CCS ceased the aforementioned investigation without a finding of liability against both F&N and Heineken.”
F&N noted that it is "unaware of any plans by Heineken to carry out any soft drinks business activities in Singapore".
The penultimate part of this month's management briefing sees Ben Cooper continue his review of the environmental efforts of the larger brewers. Here, he looks at Heineken, Molson Coors and SABMiller....
UK cidermaker Thatchers has revealed details of a new GBP6.5m (US$10.9m) marketing campaign, including a national TV advert....
- Job cuts not the whole story at AB InBev - Comment
- Diageo's smart Seedlip sustainability move
- The decline of the flagship beer brand - Comment
- Pernod Ricard Q4/FY 2016 results - Preview
- Craft spirits shake-out will be just the beginning
- AB InBev to cull 5,500 jobs after SABMiller buy
- Diageo revamps Gordon's gin bottle in UK
- CEO Paul Schaafsma set to leave Accolade Wines
- Heineken unveils new mid-strength lager Heineken 3
- Concha y Toro sees H1 profits, sales jump - result
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Carlsberg AS (CARL B) - Financial and Strategic SWOT Analysis Review