The Straits Times
Published on Feb 01, 2013

Kirin accepts Thai tycoon's offer for its F&N shares


JAPANESE brewer Kirin Holdings is tendering its 14.76 per cent stake in Fraser and Neave to Thai tycoon Charoen Sirivadhanabhakdi, boosting his already-hefty stake in the drinks and property firm.

Mr Charoen's parties Thai Beverage and TCC Assets already hold 54.01 per cent of F&N, including acceptances to his $9.55 per share general offer. So Kirin's acceptance will take Mr Charoen's stake to about 68.8 per cent.

Kirin had bought the bulk of its stake in July 2010, from Temasek Holdings.

Since then it had dispatched an executive officer, Mr Hirotake Kobayashi, to sit on the board on F&N, to "explore and discuss opportunities for collaboration in South-east Asia in line with Kirin's integrated beverages strategy".