Heineken raises direct stake in APB to 13.16%
2012-08-27 16:17:06
Dutch brewer Heineken, which is seeking control of Asia Pacific Breweries, said Monday it has raised its direct stake in the Tiger beer maker to 13.16 per cent by purchasing shares in the open market, the Dow Jones news agency reported.
Heineken bought 845,000 shares, or 0.33 per cent, in the open market at S$53 per share, taking its most recent purchase to S$44.7 million.
The share purchases extend similar efforts by Heineken in the past weeks.
On Aug 17, Heineken agreed to pay S$5.6 billion for Fraser & Neave direct and indirect stakes in APB with an improved offer of S$53 per APB share. Heineken, which originally offered S$50 per share, said that with its sweetened offer, it would now cost US$6.3 billion to buy all of APB.
With the latest purchases, and assuming F&N shareholders approve the sale to Heineken, the Dutch brewer's deemed interest in APB would rise to 85.23 per cent, the report said.