SINGAPORE: Fraser & Neave shareholders to get part of Heineken deal proceeds
Fraser & Neave will distribute part of the proceeds from the Heineken deal to shareholders
Fraser & Neave (F&N) has said its plans to distribute around SGD4bn (US$3.19bn) to shareholders if the sale of its stake in Asia Pacific Breweries goes through.
Shareholders will get around 84% of the cash proceeds from the SGD4.8bn the group earns from its sale to Heineken via a capital reduction, F&N said late Friday (24 August). The Singapore conglomerate will use the remainder of the proceeds to pay down debt and strengthen its balance sheet.
Last week, F&N's board agreed to an increased offer from Heineken for the group's 39.7% total stake in APB. The Dutch brewer raised its offer to SGD53 per share after an initial offer of SGD50 per share last month.
The deal remains subject to approval from F&N shareholders, but Heineken previously said it expects the transaction to complete no later than 15 December.
Environmental sustainability remains one of the most active areas for the global drinks industry. This year, just-drinks returns to the subject with four separate management briefings, one per sector....
In the second part of this management briefing, which looks at environmental sustainability in the brewing sector, Ben Cooper looks at the role played by sourcing ingredients locally....
The fourth and final part of this month's management briefing, which looks at the efforts of the brewing world in the environmental sustainability arena, considers the work of Heineken, Molson Coors a...
Heineken has a "low appetite" for China's mainstream beer sector and will continue to concentrate on the premium end of the market, the head of the Dutch brewer has said....
- How the can has a part to play in beer's future
- The Future of Cocktails - Consumer Trends
- Will Brexit make a winner out of Travel Retail?
- What do US wholesalers think of spirits trends?
- Experienced hands hold firm at CCEP - Analysis
- Diageo Australia's commercial head to step down
- Diageo reveals revival plan for former factory
- William Grant sees 2015 sales, profits lift
- Stoli Group CEO Rob Cullins to step down
- Jose Cuervo applies to go public
- Global gin insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends