Heineken increases Tiger beer bid to $6.35 billion
August 18 , 2012
Heineken has increased its offer for Fraser and Neave's stake in the maker of Tiger beer to $6.35 billion.
The move comes in a bid to stave off a Thai rival for control of a leading brand in the lucrative Southeast Asian market.
The Dutch brewer aims to seek control of Asia Pacific Breweries (APB) in order to gain a share of a beer market that is still growing.
However, Heineken’s efforts have been hampered by Charoen Sirivadhanabhakdi, Thailand's second-richest man, who wants to expand his Thai Beverage empire.
Heineken's offer for APB shares owned by drinks and property conglomerate Fraser & Neave, its long-time partner, would potentially give it an 81.6% stake and spur a general offer for the rest of APB.