Thai Beverage chief backs Heineken's Asia Pacific Breweries bid

Heineken cleared the biggest hurdle in its fight to take control of Asia Pacific Breweries as billionaire stakeholder Charoen Sirivadhanabhakdi's Thai Beverage pledged its support.

Thai Bev and Charoen's TCC Assets will back Heineken's S$5.6 billion (HK$35.43 billion) bid for Fraser & Neave's 40 per cent stake in the business at a shareholder meeting next week after the Dutch brewer agreed not to make a competing offer for F&N, the Amsterdam-based brewer said yesterday. Heineken had previously operated APB via a joint venture with F&N.

via Business feed http://www.scmp.com/business/companies/article/1040911/thai-beverage-chief-backs-heinekens-asia-pacific-breweries-bid