Heineken takes control of Asia Pacific Breweries
Friday 03 August 2012
Beer brewer Heineken has been given the go-ahead to buy a further 18% of Asia Pacific Breweries, news agency Reuters reports on Friday, quoting anonymous sources.
The board of Heineken's Singapore parter Fraser and Neave, which owns the 18%, will vote for a slightly higher bid of S$50 per share and recommend acceptance of the offer to its shareholders.
The Dutch beer brewer already owns 42% of the shares in APB, brewers of Tiger Beer and Bintang, and the new acquisition will give it control of the company, says Reuters.
By taking control of APB, Heineken will strengthen its position in the fast-growing Asian beer market.