/ / Heineken Faces Challenge For Tiger Beer Purchase

Heineken Faces Challenge For Tiger Beer Purchase

8/07/2012 07:59:00 AM

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The battle marches on in the fight to purchase Tiger Beer maker Asia Pacific Breweries.  This from yahoo:

SINGAPORE, Aug 7 (Reuters) - Heineken's $6 billion bid to take full control of Tiger Beer maker Asia Pacific Breweries faces a challenge from a group led by Thai billionaire Charoen Sirivadhanabhakdi, which has put in a higher bid to increase its stake in APB.

Kindest Place Groups, a vehicle owned by Charoen's son-in-law, on Tuesday made an unsolicited offer of S$55 a share to buy Singapore conglomerate Fraser and Neave's (F&N) direct 7.3 percent stake in APB, F&N said in a corporate filing.

The move comes after Singapore's F&N agreed to sell its direct and indirect stake in APB to Heineken for S$5.1 billion ($4.1 billion), which worked out to S$50 a share.

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