F&N shares fall after ThaiBev victory | Bangkok Post: business

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ThaiBev wins, F&N shares fall

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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