Friday, Jan 30, 2015Friday, Jan 30, 2015

Entity linked to ThaiBev may bid for F&N

Potential buyout may lead to F&N being broken up

Published on Sep 12, 2012 6:00 AM
A man rides his motorcycle past a beer factory belonging to Thai Beverage in Ayutthaya province, some 80 km (50 miles) north of Bangkok September 11, 2012. -- PHOTO: REUTERS

A general offer for Fraser and Neave (F&N) by Thai Beverage and another "entity" is looking increasingly likely and could well lead to the conglomerate being broken up.

ThaiBev, which holds 29 per cent of F&N, said early yesterday that "a party acting in concert with it is exploring the possibility of making an offer for F&N".

ThaiBev did not name the party, but sources say it could be a property company, probably one linked to billionaire Charoen Sirivadhanabhakdi, the man behind ThaiBev.

Mr Charoen, whose net worth is US$6.2 billion (S$7.6 billion) according to Forbes, controls the unlisted Thai conglomerate TCC Group.

If you are not a subscriber, you can get instant, unlimited access here