SINGAPORE: Overseas Union Enterprise extends Fraser & Neave offer deadline

By | 3 January 2013

Fraser & Neave is the target for both TCC and OUE

Fraser & Neave is the target for both TCC and OUE

The battle for Fraser & Neave (F&N) has taken another twist after Overseas Union Enterprise (OUE) extended the deadline for its SGD13.1bn (US$10.7bn) offer for the Singapore conglomerate. 

In a filing today (3 January), property group OUE said that the closing date for its offer has been extended until 14 January. The previous deadline was today. 

It comes after ThaiBev-controlled TCC Assets yesterday extended its offer deadline for F&N for a fourth time to 10 January. OUE's bid tops TCC's, which is SGD9bn (US$7.36bn). 

If the OUE bid is successful, Japan's Kirin Holdings has agreed to acquire F&N's food & beverage business for SGD2.7bn.  

Last month, F&N's board branded OUE's offer as "not compelling, but fair"

Expert analysis

Fraser and Neave, Limited (F99) - Financial and Strategic SWOT Analysis Review

Fraser and Neave, Limited (F&NL) is a Singapore-based diversified company, active in Food & Beverage, Property and Publishing & Printing industries. It manufactures and distributes breweries, non-carbonated beverages, dairy products, soft drinks and ice-creams. The company also develops properties and invests across commercial and residential properties, besides managing them. It has major interests in serviced residency segment. In addition, F&NL also offers investment funds services across Europe, Australia, North and Southeast Asia and the Middle East. It is also into printing and publishing operations across the US, Europe, Asia and Australia. The company also owns retail outlets and distributes books, magazines and other related commodities across Asia-Pacific. It operates along with its subsidiaries, joint ventures and affiliates. F&NL is headquartered in Singapore. F&NL, intends to pace of joint ventures in its Development Property business to enable its participation over a range of major projects. In line with this, the company entered into a conditional subscription cum shareholders agreement ("SSA") to form a joint venture with FCL Centrepoint Pte Ltd, to develop land parcels at Bandar Petaling Jaya, Daerah Petaling, Selangor, Malaysia.

Sectors: Beer & cider, Soft drinks

Companies: Kirin

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