Pursuits
Thai Billionaire Charoen Wins Control of Fraser & Neave
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Thailand’s richest man won control of Fraser & Neave Ltd. after his S$13.8 billion ($11.2 billion) offer for the 130-year-old property and beverage company gained the backing of a majority of shareholders.
Thai billionaire Charoen Sirivadhanabhakdi’s Jan. 18 offer of S$9.55 a share topped a proposal from rival Overseas Union Enterprise Ltd. His bid had the support of 50.9 percent of shareholders yesterday, according to a Singapore exchange statement by his company, TCC Assets Ltd.