Heineken’s offer for Tiger Beer faces Thai billionaire challenge

City A.M. Reporter
HEINEKEN’S $6bn (£3.8bn) bid to take full control of Tiger Beer maker Asia Pacific Breweries faces a challenge from a group led by Thai billionaire Charoen Sirivadhanabhakdi, which has lodged a higher bid to increase its stake in APB.

Kindest Place Groups, a vehicle owned by Charoen’s son-in-law, yesterday made an unsolicited offer of S$55 a share to buy Singapore conglomerate Fraser and Neave’s (F&N) direct 7.3 per cent stake in APB, F&N said in a corporate filing.

The move comes after Singapore’s F&N agreed to sell its stake in APB to Heineken for S$5.1bn, or S$50 a share.