Business

OCBC, unit get offer for their stake in Fraser and Neave

SINGAPORE, July 16 – Singapore’s Oversea-Chinese Banking Corp (OCBC) and its insurance unit Great Eastern have received an offer for their combined 18.2 per cent stake in Fraser and Neave, a Singapore-listed beverages-to-property firm.

The offer, from an unnamed group, was also for a 7.92 per cent stake in Asia Pacific Breweries Ltd owned by OCBC and its unit, the Singapore lender said in a statement.

Fraser and Neave has a market capitalisation of US$8.7 billion (RM27.67 billion), according to Thomson Reuters data.

The offer comes two years after Kirin Holdings Co, Japan’s largest brewer, paid US$984 million for Temasek Holdings Pte’s 14.7 per cent holding in Fraser and Neave. – Reuters

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