Thai Beverage aims to raise stake in Fraser and Neave
BANGKOK, July 31 – Thai Beverage Pcl, controlled by tycoon Charoen Sirivadhanabhakdisaid, said today it aimed to buy more shares in Fraser and Neave after raising its holding to 23.9 per cent by purchasing shares in the Singapore market.
“We are interested in buying more shares, possibly through the stock market, but the amount will not be significant,” Chief Executive Officer Thapana Sirivadhanabhakdi told reporters on the sidelines of an industry seminar.
Thai Beverage, Thailand’s top beer and spirits group, wanted to be a major shareholder in F&N, Thapana said, but he declined to say how big a stake it aimed to take.
Thai Beverage is in a bidding war with Heineken for control of Asia Pacific Breweries, which is 40 per cent owned by F&N.
Last Friday the Dutch brewer extended a US$6 billion takeover offer for Asia Pacific by one week.
Heineken had offered to buy out Fraser and Neave’s stake in APB after banking firm OCBC and affiliated groups agreed to sell their stakes in F&N and APB for US$3 billion to companies linked to the founder of Thai Bev, Charoen Sirivadhanabhakdi.
Asked about expectations that Thai Bev may join forces with Japan’s Kirin Holdings, which owns about 15 per cent of F&N, to take control of the maker of Tiger beer, Thanapa said: “No.” He did not elaborate. – Reuters