ThaiBev shakes up Singapore drink makers | Bangkok Post: business

SINGAPORE : Thai billionaire Charoen Sirivadhanabhakdi made a S$9 billion (US$7.3 billion, 220 billion baht) bid for the 70 per cent of Fraser & Neave Ltd. he does not control, potentially blocking Heineken NV from buying the company's beer business.

Thai Beverage (ThaiBev) and its partner TCC Assets offered other owners S$8.7 billion to take over Singapore's Fraser and Neave (F&N), the parent of Asia-Pacific Breweries (APB), maker of Tiger Beer and other popular brands.Heineken NV considered its next step in a two-month battle to gain control of F&N's beer business.Heineken's options may include making a counter offer for F&N, either by itself or with a partner, said Goh Han Peng, an analyst at DMG & Partners Research Pte in Singapore.Japan's Kirin Holdings Co., which also owns a 15 percent stake in F&N, had considered making a bid for F&N's food and soft-drinks unit, several people with knowledge of the matter said in August. Coca-Cola Co. has explored a bid for the drinks operations, people with knowledge of the matter have said.ThaiBev makes Chang Beer and is also involved in food and non-alcoholic drinks.According to Forbes business magazine, Charoen is the third richest person in Thailand with an estimated fortune of $6.2 billion as of August, with the bulk of his money coming from his beverage business.Justin Harper, a market strategist with IG Markets Singapore, said the Thai move could scuttle Heineken's takeover of APB but Charoen's final goal remained unclear."It will definitely create some uncertainty among...