Heineken Buys APB Shares From F&N
Published on Aug 3 2012 1:40 PM in Drinks
Heineken has confirmed the purchase of APB shares from Sinagpore company Fraser & Neave (F&N). The agreement will give Heinken control over APB.
F&N, long-time partner of the Dutch brewer, has accepted Heinken's offer of S$50 per share. It is thought that the deal will set Heinken back around $4.1 billion.
The board of F&N has agreed to recommend a vote in favour of the deal to its shareholders and the agreement is subject to negotiation and execution of definitive transaction documents between the two companys.
Heineken currently owns 42 per cent of APB, which brews and markets Heineken beer in eight Asian markets, including China, and had a revenue of $2.974 billion in 2011, with profit before tax coming in at $613 million.
© 2012 - ESM: European Supermarket Magazine