Heineken clears hurdle for APB takeover | Bangkok Post: business

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Heineken clears hurdle for APB takeover

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  • Writer: Bloomberg
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Heineken NV (HEIA) has cleared the biggest hurdle in its fight to take control of Singapore-based Asia Pacific Breweries Ltd (APB) with billionaire stakeholder Charoen Sirivadhanabhakdi’s Thai Beverage Plc (THBEV) pledging its support. 

Thai Bev and Charoen’s TCC Assets Ltd. agreed to back Heineken’s S$5.6 billion (US$4.6 billion) bid for Fraser & Neave's 40% stake in the beermaker at a shareholders meeting next week after the Dutch brewer agreed not to make a competing offer for F&N, the Amsterdam brewer said.

Heineken had previously operated APB via a joint venture with F&N.

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