SINGAPORE--Heineken NV (HEIA.AE) bought over $40.2 million worth
of Asia Pacific Breweries Ltd. (A46.SG) shares on Wednesday,
raising its direct stake in the Singapore company to 12.54% as the
Dutch brewer continues shoring up its bid to acquire the maker of
Tiger Beer.
Heineken bought 945,000 APB shares--or about 0.37% of the
company--at 53 Singapore dollars ($42.60) apiece through block
trades and open-market purchases, the world's third-largest brewer
by sales said Thursday in a filing to the Singapore Exchange.
The share purchases extend similar efforts by Heineken on
Tuesday, when the Dutch firm bought more than 6.9 million APB
shares, or 2.68% of the company, for S$53.
Heineken had agreed this weekend to pay S$5.6 billion for Fraser
& Neave Ltd.'s (F99.SG) direct and indirect stakes in APB with
an improved offer of S$53 per APB share. Heineken, which originally
offered S$50 per share, said that with its sweetened offer, it
would now cost US$6.3 billion to buy all of APB.
F&N--a Singapore conglomerate with interests in beer,
property and publishing--and Heineken share a 50-50 joint venture
that owns 64.8% of APB. F&N also owns a 7.3% direct stake in
APB.
Excluding F&N's stake, Heineken's direct and indirect
interest in the 81-year old APB joint venture now stands at about
44.9%. Heineken's deal to buy F&N's stakes in APB are subject
to approval from F&N shareholders.
With the latest purchases, and assuming F&N shareholders
approve the sale to Heineken, Heineken's deemed interest in APB
would rise to 84.61%.
Heineken hasn't said from whom it bought the APB shares in the
latest round of purchases.
Write to Chun Han Wong at chunhan.wong@dowjones.com
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