Heineken makes €3.3bn bid to buy out Asia Pacific Breweries partner
Friday 20 July 2012
Dutch brewer Heineken has made a S$5.1bn (€3.3bn) offer to buy out its partner in Asia Pacific Breweries, stirring up a potential battle for control of the company.
Heineken has offered to buy out Fraser and Neave for S$50 a share, which it says represents a 45% premium over the one-month average price of APB shares.
According to the Financial Times, Asia Pacific Breweries is ‘one the fastest-growing breweries in Asia where consumption of beer is growing more strongly than in the US and Europe’.
The BBC says the bid comes after Thailand's biggest brewer, ThaiBev, offered to buy shares in F&N and Asia Pacific Breweries
In a statement, Heineken chief executive Jean-François van Boxmeer said: ‘We really value our partnership with F&N which goes back over 80 years, but due to changes in the F&N and APB shareholding, the fabric of the partnership has changed.’
‘Singapore will continue to be our regional headquarters and both the Heineken and Tiger brand will spearhead our brand portfolio in Asia,’ Van Boxmeer said.