JAPAN/SINGAPORE: Kirin Holdings joins OUE in Fraser & Neave bid

By | 16 November 2012

Kirin has confirmed it wants the food and beverage division of Fraser & Neave

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.  

Sectors: Beer & cider, Mergers & acquisitions, Soft drinks

Companies: Kirin, Heineken

View next/previous articles

Currently reading -

JAPAN/SINGAPORE: Kirin Holdings joins OUE in Fraser & Neave bid

There are currently no comments on this article

Be the first to comment on this article

Related research

Kirin Holdings Company Limited - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report

Datamonitor's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage....

Alcoholic Drinks in Australia

Alcoholic Drinks in Australia industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecast to 2016). The profile also contains descriptions of the lea...

Related articles

Analysis - Carlsberg springs volumes surprise on rivals

Carlsberg has posted a "better-than-expected" start to 2013, an analyst has said, with the brewer's core Russian market set to gain strength throughout the year.

Product Launch - US: Heineken's Newcastle Bombshell Blonde Ale

The US arm of Heineken has launched a limited-edition extension of its Newcastle brand in the country.

just The Preview - Anheuser-Busch InBev Q1

Anheuser-Busch InBev will release its Q1 results tomorrow (30 April). Here, just-drinks takes a look at the company's highs and lows in the three months to the end of March.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page