http://sgxinfo.blogspot.sg/2012/09/heineken-takeover-of-tiger-beer-maker.html

Heineken says it has completed purchase of 8.6% of APB
Posted: 25 September 2012 1734 hrs

	Photos 1  of 1 A worker unloads a truck delivering Heineken and Tiger beer to a pub before its opening hours in Singapore. (AP/Wong Maye-E. File)

THE HAGUE: Heineken said on Tuesday it had completed its purchase of 8.6 per cent of top Asian brewer Asia Pacific Breweries (APB), bringing the Dutch beer giant a step closer to taking control of APB and gaining an edge in Asia.

Heineken said in a statement that on Monday it had " completed the purchase of 22,207,130 shares in Asia Pacific Breweries Limited held by Kindest Place Groups Limited," in a deal worth around 741 million euros (US$959 million).

Heineken announced its intention to purchase the shares on 19 September.

Kindest Place Groups is controlled by the son-in-law of tycoon Charoen Sirivadhanabhakdi, who controls Thai Beverage (ThaiBev) and TCC Assets that last week agreed to support Heineken's bid to gain control of Asia Pacific Breweries.

Heineken in turn promised not to make a counter-offer for APB's parent company Fraser and Neave (F& N), which the Thais want to take over.

Heineken already owns 42 per cent of Singapore-based APB and offered S$5.6 billion (US$4.6 billion) for the 40 per cent stake held by F& N.

This has to be ratified at an extraordinary general meeting of F& N shareholders on 28 September.

APB, the crown jewel of F& N, makes Tiger Beer and other popular brands in Asia, where beer consumption is rapidly growing as sales taper off in mature markets like Europe, Heineken's traditional base.

APB, which has breweries in 14 countries including China, reported in August that its revenues for the third quarter to June rose almost 10 per cent to S$781.33 million from a year ago.

A Heineken takeover of APB would give it an edge over other rivals in Southeast Asia as well as China.

Heineken Mulls Raising APB Bid to About S$53 a Share