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ASIA: ThaiBev confirms talks over Fraser and Neave stake buy

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ThaiBev, sister company of TCC Group, has confirmed it is in talks to acquire a stake in Fraser and Neave and its subsidiary, Asia Pacific Breweries. 

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Oversea-Chinese Banking Corps (OCBC) and Great Eastern Holdings' (GEH) announced to the Singapore stock exchange on Monday (16 July) that they have been "approached with an offer" to sell their  combined stake in Fraser and Neave and Asia Pacific Breweries. The filing did not reveal the mystery bidder. 

But today (18 July), ThaiBev's president & CEO, Thapana Sirivadhanabhakdi, announced the company is "in discussions to explore the possibility of acquiring the shareholdings". 

He added, however, that "no definitive binding agreement had yet been entered into".

Meanwhile, analysts Nomura has warned that Asia Pacific Breweries, the joint venture between Heineken and Fraser and Neave, could be broken up if the deal goes through. 


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