Heineken a step closer to getting claws into Tiger

By SCOTT REID
Published on 19/09/2012 09:59

BREWING giant Heineken has taken a major step towards winning control of the maker of Tiger beer after a Thai rival accepted the deal.

Billionaire investor Charoen Sirivadhanabhakdi’s Thai Beverage said it would vote in favour of the sale of Singapore conglomerate Fraser & Neave’s (F&N) stake in Asia Pacific Breweries (APB) to the Dutch group.

In return, Heineken, which swallowed Scottish & Newcastle in 2008 in a joint swoop with Danish peer Carlsberg, will not make an offer for shares in F&N. The deal ends a stand-off after two months of competing offers for control of APB.

Heineken, which already shares control of APB through a long-standing venture with F&N, now looks set to take full ownership of the brewer and protect its turf in Asia’s fast-growing beer market.

One analyst said: “This is settlement talk, to prevent any further escalation of the fight for F&N or APB, which will cost more for both parties if it goes on.”