Bloomberg News

Fraser & Neave Schedules Vote on APB Sale for September 28

September 05, 2012

Fraser and Neave Ltd. will hold a shareholder meeting on September 28 to vote on the proposed sale of its 40 percent stake in Tiger beer maker Asia Pacific Breweries Ltd (APB) to Heineken NV (HEIA) for S$5.6 billion ($4.5 billion).

Shareholders will also vote on plans to distribute S$4 billion of cash to investors, F&N said in a statement today.

Heineken, based in Amsterdam, last month said it will pay F&N S$53 per share for its holdings in APB, agreeing to a total payout of S$5.6 billion.

APB has rights to brew Bintang beer in Indonesia, Anchor in China, Southeast Asia and Sri Lanka, and Heineken from China to New Zealand.

To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net

To contact the editor responsible for this story: Stephanie Wong at swong139@bloomberg.net


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