TCC Assets, a company backed by billionaire Charoen Sirivadhanabhakdi’s Thai Beverage Pcl, offered to buy the rest of Fraser & Neave for $9 billion.
The $8.88 a share bid is 4.3% more than Fraser & Neave’s closing price yesterday, TCC said in a filing today. ThaiBev already owns about 29% of Fraser & Neave, according to data compiled by Bloomberg.
Heineken NV needs approval from F&N shareholders to complete its offer for Singapore-based F&N’s 40% stake in Tiger beer maker Asia Pacific Breweries Ltd.
Purchasing F&N would widen Charoen’s influence in Asia and help Thai Bev diversify overseas. The Thai brewer got 96% of its revenue from its home country in 2011, according to data compiled by Bloomberg.
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