Drinks giant Heineken has made a bid to buy the remaining stake in Tiger beer maker Asia Pacific Breweries (APB) that it does not currently own.The bid offer of S$5.1 billion ($4.1 billion) is for the share owned by Singapore-listed company Fraser and Neave (F&N).
"We really value our partnership with F&N which goes back over 80 years, but due to changes in the F&N and APB shareholding, the fabric of the partnership has changed," said Heineken chief executive Jean-Francoi van Boxmeer. He added that the company was looking ahead to the "next chapter of our Asian business". The move is aimed at protecting Heineken's interests in the region, and the desire to continue with its expansion plans in the region. Rival drinks firm Kirin owns almost a 15 per cent shareholding in F&N.
The move by the Dutch drinks company is one of a host of strategic movements made by drinks firms looking to position themselves in what is considered by many to be the next big battle ground for the industry. (22 Jul)
© 2012 - ESM: European Supermarket Magazine
