OUE bids S$13.1 bln for Singapore's F&N, tops Thai offer

Thu Nov 15, 2012 8:12am EST

Nov 15 (Reuters) - Overseas Union Enterprise Ltd launched on Thursday a S$13.1 billion ($10.71 billion) offer for Singapore property and drinks conglomerate Fraser and Neave Ltd , trumping a bid from Thailand's third-richest man.

OUE, a hotel and property firm controlled by Indonesia's Lippo Group, said it would pay S$9.08 for each F&N share, bettering the Thai's S$8.88 per share offer. ($1 = 1.2227 Singapore dollars) (Reporting by Sayantani Ghosh in Bangalore; Editing by Saumyadeb Chakrabarty)