Close Menu

ThaiBev and TCC raise bid for APB

ThaiBev and its partner TCC Assets have launched a new offer for Fraser & Neave, owner of Singapore-based Tiger Beer brewer Asia Pacific Breweries in a new round of their battle with Heineken for control of the group.

ThaiBev’s improved bid, in conjunction with TCC Assets, owned by Charoen Sirivadhanabhakdi and his wife, makes a cash offer of S$8.8 billion (US$7.2 billion) for the brewer, a significant improvement on their previous offer.

Fraser & Neave have already recommended a Heineken bid of S$5.2 billion (US$4.2 billion) to shareholders. However, in recent weeks, ThaiBev, owned by Thai billionaire Sirivadhanabhakdi has become the largest single shareholder in Fraser & Neave, now owning more than 30% of the company.

Singapore law insists that once a shareholder owns more than 30% of a company, they must make a formal offer for the company.

Heineken says it will look carefully at ThaiBev’s announcement. A successful bid by ThaiBev may have implications for Heineken in south-East Asia, where they use APB as a distributor of their beer brands.

It looks like you're in Asia, would you like to be redirected to the Drinks Business Asia edition?

Yes, take me to the Asia edition No