Heineken agrees deal to take control of APB

LONDON Fri Aug 3, 2012 5:51am EDT

Related Topics

LONDON (Reuters) - Global brewer Heineken (HEIN.AS) agreed a $4 billion-plus deal on Friday to take control of Asia Pacific Breweries (APB) APBB.SI by agreeing to buy a stake in the Singapore-based brewer from partner Fraser and Neave (F&N) (FRNM.SI), said sources with knowledge of the situation.

Heineken had given F&N a deadline of Friday to agreed to a sale, and a deal has been agreed in principle and has gone to the F&N board for rubber stamping, they said.

The deal was slightly ahead of Heineken's initial offer of S$50 a APB share, but no further details were available.

"The deal has been agreed by Heineken and F&N's management, and the agreement will now go for approval by the F&N board and then be announced officially," said one of the sources.

(Reporting by David Jones in LONDON and Eveline Danubrata in SINGAPORE; Editing by Andrew Callus)

FILED UNDER: