ThaiBev Ups Offer to $7.3 Billion for Fraser & Neave / Asia Pacific Breweries

We’ve followed along as ThaiBev & Heineken have battled over Tiger Beer Maker Asia Pacific Breweries/F&N.  Now ThaiBev has upped the Bid to $7.3 Billion.  Details from Bloomberg:

Thai billionaire Charoen Sirivadhanabhakdi made a S$9 billion ($7.3 billion) bid for the 70 percent of Fraser & Neave Ltd. (FNN) he does not control, potentially blocking Heineken NV (HEIA) from buying the company’s beer unit.

TCC Assets Ltd., linked to Charoen’s Thai Beverage Pcl (THBEV), offered S$8.88 a share for F&N (FNH), TCC said in a filing today. The bid is 4.3 percent more than F&N’s closing price yesterday and values the company at $10.3 billion.

The Thai billionaire could thwart Heineken’s $4.4 billion offer for F&N’s 40 percent stake in Tiger beer maker Asia Pacific Breweries Ltd. (APB) if he succeeds in buying the conglomerate. Charoen is making his bid ahead of a Sept. 28 meeting where F&N shareholders will vote on the Dutch company’s proposal.

About MyBeer Buzz

Founder, owner, author, graphic designer, CEO, CFO, webmaster, president, mechanic and janitor for mybeerbuzz.com. Producer and Co-host of the WILK Friday BeerBuzz live weekly craft beer radio show. Small craft-brewer of the craft beer news sites and one-man-band with way too many instruments to play........Copyright 2007-2024 mybeerbuzz.com All Rights Reserved: Use of this content on ANY site without written permission is not allowed.