F&N, Asia Pacific Breweries request trading halts
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.