Heineken yesterday hit back at a rival bid for control of Singapore’s Asia Pacific Breweries, the maker of Tiger Beer, making sure to point out the inferiority of the unsolicited offer.
The Dutch brewer owns half of Asia Pacific Breweries through a joint venture with Fraser and Neave, but found its investment under threat last month after a challenge from a group led by the billionaire founder of ThaiBev, Charoen Sirivadhanabhakdi.
The battle started on July 19, when the Thai group sealed a S$3.8 billion $3 billion deal with several major shareholders to buy stakes in both Asia Pacific Breweries and Fraser and Neave, offering S$45...
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