SINGAPORE: ThaiBev teams with unnamed party to prepare Fraser & Neave bid
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.
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