SINGAPORE--Thai Beverage PCL (Y92.SG) Tuesday said a party
acting in concert with the Bangkok-based drinks company is
exploring the possibility of making an offer for Fraser & Neave
Ltd. (F99.SG), a move that could complicate Heineken NV's (HEIA.AE,
HINKY) offer to buy the Singapore conglomerate's beer business.
The announcement comes two weeks ahead of a extraordinary
general meeting in which shareholders will vote on Heineken's 5.6
billion Singapore dollar (US$4.5 billion) bid to buy out Fraser
& Neave's stake in Asia Pacific Breweries Ltd. (A46.SG), a
business jointly controlled by the Singapore and Dutch
companies.
Responding to media reports earlier this week, ThaiBev also said
it hasn't been seeking financing for a potential general offer for
Fraser & Neave but has been seeking refinancing proposals from
banks for a loan previously taken out to fund its initial
investment in Fraser & Neave.
"The (ThaiBev) board understands that a party acting in concert
with the company is exploring the possibility of making an offer
for F&N," ThaiBev said in a statement.
"Shareholders of the company and F&N should note there is no
certainty that an offer for F&N will materialize."
ThaiBev didn't -say who "the party acting in concert" is.
Write to Chun Han Wong at chunhan.wong@dowjones.com
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