ASIA: Heineken bids US$4.07bn to take full control of Asia Pacific Breweries
Heineken is seeking full control of Asia Pacific Breweries
Heineken has made a bid to take full control of Asia Pacific Breweries (APB) by offering to buy its joint venture partner Fraser and Neave's stake for SGD5.1bn (US$4.07bn).
The move comes just a day after it was announced that Chang brewer ThaiBev has agreed to buy a 22% stake in Fraser and Neave. At the same time, Kindest Place Groups, run by ThaiBev's owner's son-in-law, agreed a deal to take a combined 8.4% stake in APB.
Heineken's bid, announced today (20 July), sets up a potential battle over the Tiger brewer.
In a statement, Heineken, which currently has a 50% stake in APB, said it was "keen to agree a consensual deal with F&N". But it added: "If Heineken is denied the ability to extend its offer to all APB shareholders it will review all options available to protect its commercial interests."
Jean-François van Boxmeer, Heineken's chairman & CEO, said: "We believe that our offer for the APB shares is highly attractive and provides excellent value to F&N and APB shareholders."
The Dutch brewer has bid SGD50 per share for APB, while Kindest Place Group's bid was SGD45 per share.
APB's largest brand is Heineken, representing 30% of volumes. Other brands include Tiger, Anchor, Bintang and Larue.
In its statement, the company added: "Heineken is confident that when completed, this offer will also generate long-term financial and strategic value for its shareholders, given the attractive growth potential of South-East Asia and the company's strong position within the international premium beer segment."
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