Breaking News

U.S. Said to Limit Visitors From Ebola Nations to Five Airports

Thai Billionaire’s Family Tops Heineken Bid for APB Stake

Fraser & Neave Ltd. (FNN) received an unsolicited bid from a family member of Thai billionaire Charoen Sirivadhanabhakdi for a stake in Asia Pacific Breweries Ltd. (APB) that’s 10 percent higher than Heineken NV (HEIA)’s offer.

The S$55-a-share bid came from Kindest Place Groups, owned by Chotiphat Bijananda, Charoen’s son-in-law, for 18.8 million shares or 7.3 percent of APB, Singapore-based F&N said in a statement today. Charoen is the controlling shareholder of Thai Beverage Pcl.

F&N’s board of directors last week recommended Heineken NV’s offer of S$50 a share for its 40 percent stake in APB to shareholders. Heineken already owns a 42 percent stake and said on July 20 that it would offer as much as S$7.5 billion for the rest.

Heineken has sought full control of Singapore-based APB as it attempts to protect its hold over a key emerging-market asset. Thai Beverage (THBEV), controlled by the billionaire, last month bid for a 22 percent stake in F&N. The company owned by his son-in-law also acquired about an almost 9 percent stake in APB. Brewing assets in high-growth economies are in short supply after a decade of consolidation in the industry.

Vichate Tantiwanich a senior vice president at Thai Bev, said by phone that he couldn’t comment on the bid by Kindest Place.

To contact the reporter on this story: Clementine Fletcher in London at

To contact the editor responsible for this story: Stephanie Wong at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.