Heineken is creeping towards its goal of buying Singapore’s Asia Pacific Breweries, the maker of Tiger Beer, as it wrestles for control of the iconic brew with the billionaire owner of Thai Beverage.
The Dutch brewer owns half of Asia Pacific Breweries through a joint venture with Fraser and Neave, and is offering to buy out its partner through a S$53-a-share offer for its direct and indirect 39.7% stake in Asia Pacific Breweries, which the Fraser and Neave board accepted on August 18 and is pending shareholder approval.
Yesterday, Heineken said that it had paid S$53 a share for a further 2.68% stake in the company, acquired...
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