Dutch brewer Heineken finally wins control of Tiger beer maker APB
28 Sep 2012
Dutch brewer Heineken today finally won control of Tiger beer maker Asia Pacific Breweries (APB) after a two-month battle with Thai Beverage controlled by billionaire Charoen Sirivadhanabhakdi.
Shareholders of its joint venture partner in APB, Singapore-listed Fraser and Neave Ltd (F&N), voted in favour of selling the company's 39.7 per cent stake for $4.6 billion in APB to Heineken. The deal values APB at around $11 billion.
Around 98.73 per cent of F&N shareholders voted in favour of the deal.
Heineken, which holds a 42-per cent stake in APB, had earlier said that on successful closing of the deal, it would spend a further S$2.4 billion to buy out the minority shareholders according to Singapore takeover rules.
The acquisition will give the Amsterdam-based brewer control of beers brand like the iconic Tiger Beer and other brands like Anchor, Bintang and Larue, all of which are very popular in Southeast Asia.
Apart from beer, APB also owns brands in soft drinks, fruit juices, mineral water, dairy products and bottling operations.
.webp)
