Shareholders Pushing Fraser & Neave To Explain Future Without Tiger Beer

More news in the ongoing Tiger Beer takeover from Reuters:

Shareholders of Fraser and Neave (F&N) (FRNM.SI) are urging the board to outline a future without Asia Pacific Breweries before they vote on a S$5.59 billion ($4.49 billion) deal to sell F&N's stake in the maker of Tiger Beer to Heineken (HEIN.AS).

Convincing shareholders of the merits of selling its roughly 40 percent stake to the Dutch brewer is crucial to the deal's success and to overcoming any opposition by billionaire Charoen Sirivadhanabhakdi, who controls F&N's biggest stakeholder Thai Beverage PCL (TBEV.SI). The board needs the support of the minority shareholders, which own 59 percent of F&N.

 

And here’s the response from F&N:

SINGAPORE — Singapore conglomerate Fraser and Neave (F&N) said Friday it plans to distribute Sg$4.0 billion ($3.2 billion) to shareholders if an offer by Dutch firm Heineken to buy its stake in a brewery is approved.

F&N shareholders are due to vote at an extraordinary general meeting (EGM) on whether they are in favour of Heineken's revised Sg$5.6 billion offer for F&N's stake in Asia Pacific Breweries (APB), the maker of Tiger Beer.

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