SINGAPORE, Sept 28 Singapore's Fraser and Neave
Ltd (F&N) failed to get the required 75 percent vote
in favour of its plan pay out S$4 billion ($3.3 billion) to its
shareholders after the sale of its beer business, Asia Pacific
Breweries Ltd (APB), to Heineken NV.
About 54.3 percent of shareholders voted in favour of the
capital reduction plan, below the 75 percent required for the
proposal to go through.
F&N's biggest shareholders - companies linked to a Thai
billionaire - had said earlier this week that they will vote
against the capital reduction plan.
The Thai group, which owns a combined 30.7 percent stake in
F&N, has made a $7.2 billion bid to take over the Singapore
conglomerate, which also has interests in soft drinks, dairy
products, property and publishing.
($1 = 1.2281 Singapore dollars)
(Reporting by Eveline Danubrata and Kevin Lim; Editing by Ryan