Heineken will finally get full control of Asia Pacific Breweries

Heineken will finally get full control of Asia Pacific Breweries

Heineken has raised its stake in Asia Pacific Breweries (APB) to 95.3% after sealing its SGD5.4bn (US$4.3bn) acquisition of Fraser & Neave's stake in the Tiger brewer.

Following a summer of speculation around APB's future, the Dutch brewer said today (15 November) it has completed its buy-out of F&N's direct and indirect stake in APB and its non-APB assets, held by Asia Pacific Investment Private Limited. It brings to an end an 81-year partnership between Heineken and F&N who set-up APB as a JV in 1931. 

Heineken is now set to get 100% control of the brewer, as it will make a mandatory general offer for the rest of APB's shares. It paves the way for the brewer to boost its presence in Asia's lucrative emerging markets. The Dutch group said it will consolidate APB into its accounts from this month. 

It had previously faced a fight for APB from Chang brewer ThaiBev, owned by Thai billionaire Chareon Sirivadhanabhakdi. However, after building up its stake in F&N, in what looked like an attempt to block Heineken's move for the brewer, the Thai firm agreed to the takeover in September.