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Heineken completes purchase of Kindest Place's APB stake
September 25, 2012 / 6:50 AM / 5 years ago

Heineken completes purchase of Kindest Place's APB stake

BRUSSELS (Reuters) - Dutch brewer Heineken (HEIN.AS) said on Tuesday it had completed its purchase of the 8.6 percent stake in Asia Pacific Breweries APBB.SI held by Kindest Place Group.

Heineken, the world’s third-largest brewer, has bid S$53 per share to buy the holdings in Tiger beer maker APB that it does not already own.

It took a major step towards that aim last week when Thai billionaire Charoen Sirivadhanabhakdi’s Thai Beverage PCL (TBEV.SI) and TCC Assets Ltd said they would vote in favor of the sale of Singapore conglomerate Fraser and Neave’s (FRNM.SI) stake in Asia Pacific Breweries Ltd APBB.SI to Heineken.

Kindest Place is owned by Charoen’s son-in-law.

Reporting By Philip Blenkinsop

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