Heineken moves a step closer to Tiger brewer acquisition

03 August, 2012

Heineken has reached an agreement with the board of Fraser and Neave to acquire F&N's interests in Tiger brewer Asia Pacific Breweries for $50 a share.

Heineken made a move on the Tiger brewer last month

Heineken's offer is "to acquire, either directly or through a wholly-owned subsidiary, F&N's direct and indirect interests in Asia Pacific Breweries Limited as well as F&N's interest in the non-APB assets held by Asia Pacific Investment Pte Ltd". 

The board of F&N has agreed to recommend to the shareholders of F&N to vote in favour of the proposed transaction at the relevant shareholders' meeting.

The agreement is subject to successful negotiation and execution of definitive transaction documents between Heineken and F&N.


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