Thai rival may thwart Heineken’s APB brewery take-over plans

Thursday 13 September 2012

TCC Assets, an investment vehicle belonging to Thai Beverage, has made an offer of S$8.8bn for Fraser & Neave, the Financieele Dagblad reports on Thursday.

The move could hinder Heineken’s efforts to take over Asia Pacific Breweries (APB), the paper says. Thai Beverage already owns more than 30% of Fraser & Neave shares.

Analysts told the paper TCC may take over at Fraser & Neave, and a possible renegotiation of the APB sell-off to Heineken could be on the cards.

Asian market

In August, the Financial Times said Heineken had reportedly bought the 1.4% stake in APB held by Temasek Holdings for S$53 per share.

The move could make it harder for rival brewer Thai Beverage to block Heineken’s most recent bid to acquire APB, maker of Tiger Beer, the FT said.

By taking control of APB, Heineken will strengthen its position in the fast-growing Asian beer market.

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