Heineken May Need to Raise APB Bid Amid Thai Pressure

Heineken NV may need to raise its bid for the rest of Asia Pacific Breweries Ltd. or risk having an agitator as a minority investor in the Tiger beer maker after a company linked to a Thai billionaire offered a higher price.

Kindest Place Groups, owned by Charoen Sirivadhanabhakdi’s son-in-law, yesterday offered to buy a 7.3 percent stake in the Singapore-based company from Fraser & Neave Ltd. for S$55 a share. That topped the S$50 a share that Heineken, which already owns 42 percent of APB, offered F&N for a 40 percent holding, a proposal that was recommended by F&N’s board.