Heineken bags Singapore’s Tiger beer maker APB with raised bid: report

Heineken NV today won full control of Tiger beer maker, Asia Pacific Breweries (APB) after the world's third-largest brewer raised its bid for Fraser and Neave's (F&N) stake in the Singapore brewer, Reuters today reported, citing sources with knowledge of the situation.

The news agency did not say how much more Heineken offered, but said that the Amsterdam-based brewer agreed in principle to pay slightly higher than its initial offer of S$50 an APB share and F&N's board would rubber stamp the sale and then announce the transaction officially.

The deal will give Heineken control of beers brand like the iconic Tiger Beer, which is sold in 60 countries, and other brands like Anchor, Bintang and Larue, all of which are very popular in Southeast Asia.

Apart from beer, APB also owns brands in soft drinks, fruit juices, mineral water, dairy products and bottling operations.

Established as Malayan Breweries Ltd (MBL) in 1931, Singapore Exchange-listed APB is a joint venture between F&N and Heineken. The company went on to open its first brewery in Singapore and launched the award-winning Tiger beer a year later.

Through its 50-per cent holding in Asia Pacific Investment Private Ltd, Singapore-based conglomerate F&N holds 40 per cent in APB, while Heineken holds 42 per cent, and the remaining 18 per cent is held minority shareholders.