Heineken wins Tiger beer battle

 
City A.M. Reporter
Heineken won control of Asia Pacific Breweries, the maker of Tiger beer, for S$5.6bn (£2.8bn) this morning.

The Dutch brewer bought partner Fraser and Neave’s 40 percent stake in APB, which has 30 breweries in 14 countries, taking its stake in APB from 55.6 per cent to 95.3 per cent.

“Our regional headquarters will remain in Singapore with the Heineken and Tiger brands at the heart of our portfolio.

"We are now ideally positioned to expand our presence across the region and create long-term financial and strategic value for our shareholders,” Jean-François van Boxmeer, Heineken chairman and chief executive, said in a statement this morning.

Heineken said the deal is set to fully close in November.