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

Heineken agrees deal to take control of APB

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

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