SINGAPORE: ThaiBev's TCC gives Fraser & Neave another week over offer
By James Wilmore | 2 January 2013
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The battle over F&N continues |
TCC Assets, the ThaiBev-controlled vehicle, has extended its offer deadline for Fraser & Neave by another week.
It is the fourth time TCC, owned by Thai billionaire Charoen Sirivadhanabhakdi, has lengthened the deadline for its SGD8.88-per-share bid, totalling SGD9bn (US$7.36bn), for the Singapore conglomerate. The new deadline for the mandatory conditional cash offer, confirmed by TCC today (2 January) is Thursday next week (10 January).
Sirivadhanabhakdi, who holds a 35% stake in F&N, is facing a battle with Singapore-based property group Overseas Union Enterprise (OUE) for the group. In November, OUE submitted a SGD13.1bn (US$10.7bn) cash offer for full control of F&N, topping TCC's bid. The deadline for the OUE bid is tomorrow (3 January).
If the OUE bid is successful, Kirin Holdings has agreed to acquire F&N's food & beverage business for SGD2.7bn.
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: Beer & cider, Mergers & acquisitions, Soft drinks
Companies: Kirin
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SINGAPORE: ThaiBev's TCC gives Fraser & Neave another week over offer
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