Pursuits
Heineken Says Thai Billionaire Supports Its APB Offer
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Thai billionaire Charoen Sirivadhanabhakdi’s companies gave their support to Heineken NV’s offer for Fraser & Neave Ltd’s beer business, paving the way for him to take control of the conglomerate’s other assets.
Charoen’s Thai Beverage Pcl surged by a record while Heineken rose the most in almost three years. ThaiBev and TCC Assets Ltd. will back Heineken’s S$5.6 billion ($4.6 billion) bid for F&N’s stake in Asia Pacific Breweries Ltd. at a shareholder meeting next week, according to a joint statement. The Dutch brewer, which runs APB in a venture, agreed not to make a competing offer for F&N.