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Thai Beverage ups stake in F&N to 45.32%

Published on Jan 25, 2013 6:11 PM
 
In this file photo taken on May 30, 2006, Thai Beverage's Chairman Charoen Sirivadhanabhakdi speaks during a news conference at the Singapore Exchange in Singapore. Mr Sirivadhanabhakdi, who is poised to take over Fraser & Neave has managed to scoop up a 45.32 per cent stake in the firm. -- PHOTO: REUTERS

The Thai billionaire who is poised to take over Fraser & Neave has managed to scoop up a 45.32 per cent stake in the firm.

This excludes acceptances, which will boost Mr Charoen Sirivadhanabhakdi's total shareholding further.

F&N said in an announcement on the Singapore Exchange website this afternoon that Mr Charoen's investment vehicle, TCC Assets, had bought 5.7 million F&N shares on Thursday at $9.55 apiece.

Mr Charoen, who controls Thai Beverage, needs to secure more than 50 per cent of F&N for his offer to become unconditional.