NETHERLANDS/SINGAPORE: Heineken ups Asia Pacific Breweries stake
Heineken is aiming to get full control of Asia Pacific Breweries
Heineken's stake in Asia Pacific Breweries (APB) has edged up after it acquired an extra 55,000 shares in the Tiger brewer.
The Dutch brewer announced today (12 September) it paid SGD53 per share for a further 0.02% stake in APB yesterday. Heineken is hoping to get full control of APB, which it runs as a JV with Fraser & Neave (F&N).
The group last month had a SGD5.4bn (US$4.3bn) offer accepted by F&N's board for its stake in APB, but the deal is awaiting approval from the Singapore conglomerate's shareholders. F&N is due to hold an EGM on 28 September.
If the deal is approved, Heineken will gain an 86% direct and indirect stake in APB, giving it a stronger foothold in Asia's emerging markets.
However, the brewer could yet face a challenge from ThaiBev, which yesterday announced it was eyeing a bid for F&N, in conjunction with an unnamed partner.
The fourth and final part of this month's management briefing, which looks at the efforts of the brewing world in the environmental sustainability arena, considers the work of Heineken, Molson Coors a...
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