Thai tycoon raises Fraser and Neave offer price to S$9.55/share

SINGAPORE Fri Jan 18, 2013 11:26am EST

SINGAPORE Jan 19 (Reuters) - Thai billionaire Charoen Sirivadhanabhakdi raised his offer for Fraser and Neave Ltd (F&N) to S$9.55 per share, valuing the Singapore property and drinks firm at nearly S$13.8 billion ($11.3 billion), to fend off a rival bid.

Companies linked to Charoen, TCC Assets Ltd and Thai Beverage PLC acquired 90.8 million shares or 6.3 percent stake in F&N at S$9.55 each, raising their total stake to 40.45 percent, including acceptances from shareholders, TCC Assets said in a statement released in the early hours of Saturday.

Charoen's previous offer was S$8.88 per share.

A group led by Singapore property firm Overseas Union Enterprise Ltd made a S$9.08-per-share counterbid for F&N in November.

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