JAPAN/SINGAPORE: Kirin Holdings joins OUE in Fraser & Neave bid
Kirin has confirmed it wants the food and beverage division of Fraser & Neave
Kirin Holdings has confirmed it has agreed to acquire Fraser & Neave's food and beverage business if a wider bid by Overseas Union Enterprise (OUE) for the conglomerate succeeds.
OUE, a Singapore-based property group, announced yesterday (15 November) that it has submitted a SGD13.1bn (US$10.7bn) cash offer for full control of F&N. This tops a SGD9bn bid for F&N last week by TCC Assets – a privately-held vehicle owned by Thai billionaire Charoen Sirivadhanabhakdi. Through TCC Assets and Chang brewer ThaiBev, Sirivadhanabhakdi holds a 30.66% stake in F&N.
Kirin confirmed today (16 November) that OUE's statement regarding its intention was correct. Kirin will tender its 15% stake in F&N for SGD1.9bn ($1.6bn). If OUE's offer is accepted, the Japanese group will then buy back F&N's food and beverage for around SGD2.7bn.
Shares in Kirin Holdings were today down by 2.22% at JPY969.
Meanwhile, Heineken yesterday confirmed that it has finally completed a deal to buy Fraser & Neave's stake in Tiger brewer Asia Pacific Breweries.
- Pernod Ricard 's first-half results - Preview
- Pernod Ricard's H1 performance by region - Focus
- Heineken's FY performance by region - Focus
- Forget Baby Boomers at your peril - Consumer Trend
- Carlsberg's full-year performance by region
- Asahi Group lines up Grolsch, Meantime, Peroni buy
- Pernod Ricard targets US through unit, exec switch
- William Grant & Sons' Ailsa Bay - NPD
- SABMiller's Europe chief to join Britvic board
- Asahi Group to buy Grolsch, Peroni from SABMiller
- Global travel retail insights - market forecasts, product innovation and consumer trends
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Global Whiskey Market 2016-2020
- Emerging Drinks Industry Trends
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research