Fraser & Neave may yet come under full control of ThaiBev and an unnamed partner

Fraser & Neave may yet come under full control of ThaiBev and an unnamed partner

ThaiBev has said it is working with another group to explore the possibility of making an offer for Fraser & Neave. 

In a filing to the Singapore Stock Exchange today (11 September), the Chang brewer confirmed that a "party acting in concert with the company" is eyeing a move for the conglomerate. It did not name the party it is acting with. 

ThaiBev currently has a 29% stake in F&N, having been building its shareholding in the group in recent weeks. The move has been seen as a bid to block Heineken's attempts to take full control of Asia Pacific Breweries, which the Dutch brewer runs as a JV with F&N. 

However, today's filing said there was "no certainty" that an offer will materialise from ThaiBev and its anonymous partner. 

Last month F&N's board accepted a second offer from Heineken's for its stake in APB. F&N said last week that it will hold a shareholder vote on the Dutch brewer's offer on 28 September.