ThaiBev wins, F&N shares fall
- Published: 22 Jan 2013 at 12.57
- Online news:
Shares of Fraser and Neave fell 2% on the Singapore market Tuesday after a group led by Charoen Sirivadhanabhakdi won the takeover battle for the Singapore drinks and property conglomerate in a deal worth around $13.8 billion, about 334.65 billion baht.
NOTE: Singapore $1 is about 24.25 baht.
The Singapore business journal TheEdge reported on Tuesday that a group led by Stephen Riady's Overseas Union Enterprise withdrew after Thailand's TCC Assets, headed by the ThaiBev head Mr Charoen, raised its offer for F&N to $9.55 a share last week and built its stake to more than 40%.
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