Charoen 'winning' war over APB | Bangkok Post: Most recent

Most Recent >

Charoen 'winning' war over APB

  • Published: | Viewed: 7,046 | Comments: 0
  • Online news:
  • Writer: Bloomberg
- +

Thai billionaire Charoen Sirivadhanabhakdi has a history of making money by fighting foreign brewers. He is now doing it again as his company is poised to see big gains in a tussle with Heineken NV over Asia Pacific Breweries Ltd (APB), the maker of Tiger and other beers popular across Southeast Asia. 

Charoen, who in 2005 forced Carlsberg A/S (CARLA) to pay US$120 million to settle a legal dispute with a brewer he controlled, last month set off a battle over APB. Companies managed by his family have offered to buy stakes in the Singapore-based beer maker and Fraser & Neave Ltd, a conglomerate that controls 40 per cent of APB.

His bet on APB is already making Charoen's clan richer. Charoen's moves prompted Amsterdam-based Heineken to bid S$7.5 billion ($6 billion), or S$50 a share, for all of APB. This week, his son-in-law’s company topped that by offering Fraser & Neave S$55 a share for 7.3 per cent of APB.

Keep up-to-date with the latest on coup d'etat with Bangkok Post SMS News. Call *451391000 to subscribe – 39 baht/month (7 days free, available in Thailand only) Bangkok Post SMS News: Deliver only trustworthy news on SMS

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments