korea herald: heineken to buy tiger beer maker for $4.1b
From the Korea Herald:
Dutch brewer Heineken said Friday it has reached a deal to buy the Asian brewing group that makes Tiger beer for $4.1 billion, as it seeks to bolster its presence in the fast-growing region.
Heineken said Singapore-listed Fraser & Neave has accepted its offer to acquire its stake in Asia Pacific Breweries, adding that the F&N board has agreed to recommend the S$5.1 billion deal to shareholders.
Heineken had earlier said a takeover of APB ― which makes Tiger beer and other brands popular across Asia, including the Chinese market ― would give it direct access to the region.
Heineken currently owns 41.9 percent of APB, one of Southeast Asia’s biggest brewers, and taking F&N’s 40 percent will give the Amsterdam company a distinctive edge over Thai Beverage Ltd, owned by tycoon Charoen Sirivadhanabhakdi.
Kindest Place, a company owned by a son-in-law of Charoen, holds 8.6 percent in APB, leaving around 9.0 percent free-floating on the Singapore Exchange where APB is listed.
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