SINGAPORE, July 18 – OCBC, Singapore’s second-biggest bank, and its insurance unit have agreed to sell their combined 18.1 per cent stake in Fraser and Neave and an 8 per cent stake in brewer Asia Pacific Breweries for a total of S$3.22 billion (RM8.06 billion) to companies linked to Thai billionaire Charoen Sirivadhanabhakdi.
OCBC Group would make a post-tax gain of about S$1.15 billion from the deal, it said.
In a separate announcement, Thai Beverage, which Charoen controls, said it has bought a 22 per cent stake in beverage-to-property firm F&N for around S$2.8 billion or S$8.88 a share.
The purchase included shares bought from the OCBC Group and other shareholders.
The deal is expected to complicate relations between F&N and Dutch brewer Heineken, which jointly own about 65 per cent of Asia Pacific Breweries, one of Asia’s biggest brewer. – Reuters