SINGAPORE: ThaiBev's TCC takes controlling stake in Fraser & Neave

By | 31 January 2013

TCC has taken a controlling stake in Singapore conglomerate F&N

TCC has taken a controlling stake in Singapore conglomerate F&N

TCC Assets has gained a controlling stake in Fraser & Neave (F&N) after acquiring more shares in the group. 

The ThaiBev-controlled company said yesterday (30 January) that it has acquired an extra 8.6m shares at SGD9.55 per share, meaning it now owns a 50.92% stake in the Singapore conglomerate. TCC's bid for the remaining shares has been declared “unconditional in all respects”, it said. 

Meanwhile, F&N shareholders now have until 18 February to tender their shares after the offer deadline was extended. 

Kirin, F&N's second largest shareholder with a 14.8% stake, has not yet accepted the offer but will decide by Monday (4 February), the Wall Street Journal reported

Earlier this week, F&N board of director said they will step down once the TCC takeover is complete

TCC, owned by Thai billionaire Charoen Sirivadhanabhakdi, previously fought off a challenge for F&N from Singapore property firm Overseas Union Enterprise after a long-running bidding war. 

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

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