SINGAPORE: TCC offer to shareholders closes

By | 18 February 2013

TCC now has around a 90% stake in F&N

TCC now has around a 90% stake in F&N

TCC Assets has built up its total stake in Fraser & Neave to 90%, while the deadline for shareholders to tender their stock has closed. 

In a statement today (18 February), the ThaiBev-controlled vehicle said that the level of acceptances from ordinary shareholders had reached 42.08%, equating to 606,505,956 shares. Its offer to shareholders is now closed, it said. 

TCC, which now has a total shareholding of 90.32% in the group, took majority control of F&N late last month

Thapana Sirivadhanabhakdi, ThaiBev's president & CEO said: “ThaiBev  is very pleased with the outcome of the offer and the high level of acceptances gained from shareholders. We look forward to working with TCC Assets in  developing a constructive  long-term relationship with F&N  management and employees and will explore all options in an effort to enhance value.”

Earlier this month, Kirin Holdings said it will sell its 15% stake in F&N to TCC Assets for around SGD2bn (US$1.6bn).  

TCC previously won a bidding war with Singapore property group Overseas Union Enterprise for control of F&N. 

Expert analysis

Carbonated Soft Drinks in Asia-Pacific

Carbonated Soft Drinks in Asia-Pacific 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 leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Asia-Pacific carbonated soft drinks market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Sectors: Soft drinks

Companies: Kirin

View next/previous articles

Currently reading -

SINGAPORE: TCC offer to shareholders closes

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....

Kirin Beverage Corp in Soft Drinks (Japan)

By establishing a new business entity, Kirin Group Office Co Ltd, under which Kirin Beverage, Kirin Brewery and Mercian Corp are included, the company aims to realise stronger synergy across beverage businesses. The company aims to further nurture it...

Primo Schincariol Indústria de Cervejas e Refrigerantes SA in Soft Drinks (Brazil)

The soft drinks market represents around 30% of Primo Schincariol’s net sales, and carbonates, bottled water and fruit/vegetable juice are the most representative products within the company’s portfolio. After the acquisition of Primo Schincariol by ...

Related articles

Research in Focus - Ready for More Growth: RTDs Continue to Defy Doom-Mongers

The ready-to-drink (RTD) category continues to offer growth potential for spirits producers while giving their brands access to consumption occasions they were traditionally excluded from and the opportunity to attract new consumers through product innovation.

JAPAN: Kirin Holdings' H1 sales rise despite domestic beer worries

Kirin Holdings has posted a big jump in first half profits as it continues to benefit from the sale of its stake in Fraser & Neave this year, however domestic beer sales remain a concern.

US: Kirin unveils plans for Ichiban Frozen Beer

Kirin has confirmed details of the US roll-out of its Ichiban Frozen Beer brand.

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