November 16, 2012 / 4:51 AM / 5 years ago

Overseas Union Enterprise's Riady says F&N business is "complementary"

SINGAPORE, Nov 16 (Reuters) - Overseas Union Enterprise , which is leading a consortium that launched a S$13.1 billion ($10.7 billion) counter bid for Fraser and Neave , said F&N’s property business was complementary to the Singapore real estate group.

“All are good assets,” Stephen Riady, executive chairman of Overseas Union Enterprise told Reuters, replying to a question on which properties the group was eyeing. Riady was speaking on the sidelines of a charity event in Singapore.

The consortium’s counter offer, the biggest bid for a Southeast Asian company -- sets the stage for a showdown between it and the Thais as it seeks to unlock value in the Singapore conglomerate that has large property and soft drinks businesses.

Riady is the chairman of Hong Kong-listed Lippo Ltd , which is in turn part of Indonesian conglomerate Lippo Group. Lippo Ltd, through its subsidiaries, has a majority stake in Overseas Union Enterprise. (Reporting by Eveline Danubrat; Editing by Anshuman Daga)

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