After a months-long battle, Heineken N.V. can finally celebrate its successful bid for Asia Pacific Breweries Ltd. after shareholders in Singapore conglomerate Fraser & Neave approved the Dutch company’s $4.6 billion offer Friday for its nearly 40 percent stake in the beer company.
Amsterdam-based Heineken already owns 55.6 percent of Asia Pacific, which makes Tiger beer. The company’s efforts to acquire the remaining shares had been stymied in recent months by Thai billionaire Charoen Sirivadhanabhakdi, who is trying to buy out the 70 percent stake in Fraser & Neave that he does not already hold. That takeover attempt cast uncertainty upon Heineken’s own bid, but an accord struck last week between the brewer and Sirivadhanabhakdi—who also controls Thai Beverage PCL—ensured that the billionaire would back Heineken’s purchase of Fraser & Neave’s stake in Asia Pacific.
