$4bn Heineken bid for Singapore brewer

Reported by AAP
Friday, July 20, 2012
Topics in this article:
Arafura Pearls Holdings Limited

Currency Converter

Katy Perry. (Getty)Most generous celebritiesThe rich and famous stars who give their money to charity

Dutch beer group Heineken says it has made a $Sg5.1 billion ($A3.95 billion) takeover bid for Singapore-based Asia Pacific Breweries (APB) as part of its expansion in the region.

Heineken said on Friday it had offered to pay $Sg50 a share for Fraser & Neave's (F&N) entire stake in APB, a premium of $Sg8 over its Thursday closing price.

Trading of shares in APB, the maker of Tiger Beer, and F&N was halted at the Singapore Exchange pending the announcement.

"Heineken's offer is in line with the company's strategy to expand its presence in emerging markets," the Dutch brewer said in a statement issued from Amsterdam.

"If agreed, the offer will strengthen Heineken's platform for growth in some of the world's most exciting and dynamic economies with fast-growing populations," it added.

"Heineken will have direct access to a number of important markets, including Cambodia, China, Indonesia, Malaysia, New Zealand, Papua New Guinea, Singapore, Thailand and Vietnam."

Keep reading - next article
20/05/2013 18:02Sydney, Australia. 20 May,2013
advertisement