We reported on this story earlier this week. Heineken was unhappy with a bid from a wealthy Thai businessman on Asian Pacific Breweries (makers of Tiger Beer). We also brought you news of the Chang Beer purchase of Fraser & Neave yesterday and how this is all family-connected. Now word today that Heineken is attempting to block the purchase with a $6 Billion bid. Details from SFGate:
July 20 (Bloomberg) -- Heineken NV, the world’s third- biggest brewer, will offer up to $6 billion to take over Asia Pacific Breweries Ltd., blocking one of Thailand’s richest men from building his influence in the maker of Tiger beer.
Heineken, with 42 percent of Asia Pacific Breweries or APB, will pay as much as S$7.5 billion ($6 billion) to buy out other shareholders in the Singapore company, including the 40 percent stake held by Fraser and Neave Ltd., or F&N. Thai Beverage Pcl, controlled by billionaire Charoen Sirivadhanabhakdi’s TCC group, this week offered to buy a 22 percent stake in F&N while his son-in-law’s company is buying about 8.4 percent of APB.
The deal would be Heineken’s largest acquisition after offering $7.4 billion in 2010 for the beer operations of Coca- Cola bottler Fomento Economico Mexicano SAB, or Femsa. Heineken, which has been involved with APB since 1931, is trying to stop Charoen from seizing control at a time when brewing assets in attractive markets are in short supply, said Goh Han Peng, an analyst at DMG & Partners Securities.
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