Pursuits
ThaiBev, Charoen Offers S$9 Billion for Fraser & Neave
This article is for subscribers only.
Thai billionaire Charoen Sirivadhanabhakdi made a S$9 billion ($7.3 billion) bid for the 70 percent of Fraser & Neave Ltd. he does not control, potentially blocking Heineken NV from buying the company’s beer business.
TCC Assets Ltd., linked to Charoen’s Thai Beverage Pcl, offered S$8.88 a share for F&N, TCC said in a filing today. The bid is 4.3 percent more than F&N’s closing price yesterday and values the company at $10.3 billion.