Heineken makes $4.1 bln bid for Singapore brewer

Heineken makes $4.1 bln bid for Singapore brewer

SINGAPORE - Agence France-Presse
Heineken makes $4.1 bln bid for Singapore brewer

This file photo ahows a truck driver delivering Heineken beer and other drinks. AP photo

Dutch beer group Heineken said July 20 it had made a SG$5.1 billion ($4.1 billion) takeover bid for Singapore-based Asia Pacific Breweries (APB) as part of its expansion in the region.

Heineken said it had offered to pay SG$50 a share for Fraser & Neave’s (F&N) entire stake in APB, a premium of SG$8 over its July 19 closing price. Trading of shares in APB, the maker of Tiger Beer, and F&N was halted at the Singapore Exchange pending the announcement.

“Heineken’s offer is in line with the company’s strategy to expand its presence in emerging markets,” the Dutch brewer it said in a statement issued from Amsterdam.

“If agreed, the offer will strengthen Heineken’s platform for growth in some of the world’s most exciting and dynamic economies with fast-growing populations,” it added.

“Heineken will have direct access to a number of important markets, including Cambodia, China, Indonesia, Malaysia, New Zealand, Papua New Guinea, Singapore, Thailand and Vietnam.”