ThaiBev Stops Bidding War & Supports Heineken’s Efforts To Buy F&N’s Shares in Asia Pacific Breweries

This story has been batted back & forth quite a bit, but now it looks like ThaiBev will stop the bidding war & support Heineken’s efforts to purchase Fraser & Neave’s shares of Asia Pacific Breweries (makers of Tiger Beer.)  This from Bloomberg:

Heineken NV (HEIA) said Thai Beverage Pcl (THBEV) and TCC Assets Ltd pledged to support the Dutch brewer’s offer for Asia Pacific Breweries Ltd. (APB), paving the way for Heineken to gain control of the venture.

Heineken agreed to not make an offer for Fraser & Neave Ltd., the Amsterdam-based company said in an e-mailed release. Fraser & Neave shareholders will meet next week to vote on Heineken’s offer to buy F&N’s shares in APB.

Update 19 Sep 2012:  Heineken will Purchase KPG Shares @ $53

Heineken N.V. (“HEINEKEN”) announces that Heineken International B.V. has entered into an agreement with Kindest Place Groups Limited (“KPG”) to acquire KPG’s 22,207,130 shares in Asia Pacific Breweries Limited (“APB”), representing 8.6% of the total issued share capital of APB, at a price of S$53.00 per APB share (“KPG Sale”). The completion of the KPG Sale shall take place by way of a married trade to be effected on the Singapore Stock Exchange at a date to be agreed, but not later than 1 October 2012.

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