Heineken wins Tiger beer battle

Now Reading:

Heineken wins Tiger beer battle

Text size Aa Aa

Heineken has won full control of Asia Pacific Breweries, the maker of Tiger beer.

That ends a two-month takeover battle by the Dutch brewer which want to strengthen its position in the fast-growing Asian beer markets.

Victory for Heineken – which is the world’s third largest brewer – came as shareholders of Singapore conglomerate Fraser and Neave backed the sale of their stake in APB.

Their vote ended the battle between Heineken and companies linked to Thai billionaire Charoen Sirivadhanabhakdi for control of APB.

The spotlight is now on a bid by Charoen for the rest of F&N. The Thais control 30.7 percent of F&N, which will remain a large player in property and soft drinks.

Heineken already owned nearly 56 percent of APB through a long term venture with F&N. It had sought full control of the brewer to ward off the advances of Charoen, whose family’s companies became F&N and APB shareholders in July.

APB operates 30 breweries across 14 countries from Mongolia to New Zealand.