Heineken may need to raise APB bid
- Published: 8 Aug 2012 at 10.54
- Online news: News
Heineken NV (HEIA) may need to raise its bid for the rest of Asia Pacific Breweries Ltd (APB) or risk having an agitator as a minority investor in the Tiger beer maker after a company linked to a Thai billionaire offered a higher price.
Kindest Place Groups, owned by Charoen Sirivadhanabhakdi’s son-in-law, on Tuesday offered to buy a 7.3 per cent stake in the Singapore-based company from Fraser & Neave Ltd for S$55 a share. That topped the S$50 a share that Heineken, which already owns 42 per cent of APB, offered F&N for a 40 per cent holding, a proposal that was recommended by F&N's board.
Asia Pacific Breweries surged as much as 6.9 per cent to S$52.20 before trading at S$51.84 at 10.29am local time. F&N rose 1.2 per cent, while Thai Beverage Pcl gained 1.5 per cent.
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