August 3, 2012 / 9:51 AM / 5 years ago

Heineken agrees deal to take control of APB

1 Min Read

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below