AMSTERDAM (AP) ? Heineken NV says it has sealed a deal giving it control over the Tiger beer brand, paying ?4.7 billion ($6.1 billion) to significantly expand its presence in Asia.
Shareholders of Singapore-based drinks conglomerate Fraser & Neave agreed Friday to sell its 39.7 percent stake in Asian Pacific Breweries, the owner of the Tiger brand, to Heineken. After Friday's deal, Heineken controls 95 percent of APB.
Heineken CEO Jean-Francois van Boxmeer says the deal will allow the company to expand its presence across the region.
Heineken has been working to increase a longstanding stake of around 42 percent in APB for two months, buying shares on the open market and from smaller shareholders as well as negotiating with rival bidder, Thai Beverage Public Company Ltd.
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