Pursuits
F&N Seen Breaking Up in Singapore After Heineken Sale
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Fraser and Neave Ltd.’s agreement to sell its stake in the Tiger beer business to Heineken NV may spark a breakup of the Singapore conglomerate as bidders pick over its property and soft drinks divisions.
F&N’s board of directors will recommend Heineken’s S$50 a share offer for Asia Pacific Breweries Ltd. to its shareholders, the company said Aug. 3. Acquiring F&N’s 40 percent stake in Singapore-listed APB will give the Dutch brewer control of its main distributor in Asia.