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F&N, Asia Pacific Breweries request trading halts

Published on Aug 2, 2012 8:42 AM
Bottles of Tiger and Heineken beers are pictured on the shelf of a grocery store in Singapore on July 20, 2012. F&N and its beer affiliate Asia Pacific Breweries (APB) have requested trading halts in their shares on Thursday. -- PHOTO: REUTERS

SINGAPORE (AFP) - Singapore food and beverage group Fraser and Neave (F&N) and affiliate Asia Pacific Breweries (APB) halted trading on Thursday pending an announcement, fuelling renewed speculation of a takeover battle.

The suspension came on the eve of a deadline from Dutch beer giant Heineken for F&N to accept its offer for a full takeover of the group’s crown jewel APB, best known for Tiger Beer.

Heineken’s offer, which lapses on Friday after a week-long extension, had set off expectations of a scramble for F&N’s assets involving other foreign players eyeing Asia’s growing thirst for beer and other beverages.

F&N has major soft-drink and dairy assets, book publishing and printing operations, condominiums, commercial property and serviced apartments, in addition to beer.

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