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.
- Focus - Pernod's YTD Performance by Region
- just On Call - Pernod shifts Scotch focus in China
- Focus - Heineken's Q1 Performance by Region
- Focus - Coca-Cola's Q1 Performance by Region
- Diet Coke "a work in progress" in US - Coca-Cola
- CFO of Diageo's United Spirits stands down
- Pernod Ricard sees YTD recover as sales increase
- BrewDog launches GBP25m crowd-funding attempt
- Africa "subdued" but Heineken sees Q1 rises
- Elements 8 revamps rum packaging
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research