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Singapore's F&N may break-up if Thai bid wins: Analysts

Published on Sep 12, 2012 5:52 PM
Bottles of Tiger and Heineken beers are pictured on the shelf of a grocery store in Singapore in this July 20, 2012 file photograph. Heineken is expected to sweeten its $4.1 billion offer to Fraser and Neave (F&N) to win control of Tiger Beer and 24 Asian breweries, in a deal that could lift the Dutch brewer's profits and break apart the Singapore drinks and property group. -- PHOTO: REUTERS

SINGAPORE (AFP) - A Thai tycoon's bid for Singapore's Fraser and Neave (F&N) group could lead to its breakup and scuttle the takeover of an Asian brewer by Dutch giant Heineken, analysts said on Wednesday.

Thai Beverage, controlled by billionaire Charoen Sirivadhanabhakdi, on Tuesday said it was exploring a bid for F&N in tandem with an unnamed party.

If the Thai bid is launched, "this process could result in a break up of F&N," said Mr Jason Hughes, head of premium client management for IG Markets Singapore.

F&N owns 40 per cent of Asia Pacific Breweries (APB), makers of Tiger Beer and other popular Asian brands. Heineken owns 42 per cent of APB and is offering S$5.6 billion for F&N's stake.

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