DB Breweries chief stays mum as parent APB comes into play in Singapore bid

Friday 20th July 2012

Export Gold brewer Dominion Breweries' is caught up in a bidding war involving Asia Pacific Breweries, its Singapore-based parent company, after Heineken bid $5.1 billion for control with an offer to buy all of the shares held by partner Fraser and Neave for S$5.1 billion.

That trumps a S$3 billion offer from Thai billionaire Charoen Sirivadhanabhakdi. Shares of Asia Pacific are halted, having last changed hands at S$42, which values the entire company at S$9.8 billion.

Fraser & Neave owns 40 percent of Asia Pacific and Heineken already holds 42 percent. The play could become wider as Japan's Kirin Holdings also owns about 15 percent.

The deal would give Heineken control of the Tiger beer brand as well as simplify control of brands licensed to DB in New Zealand including Heineken.

DB Breweries managing director Brian Blake declined to comment on the offers. DB brews Heineken under licence along with Amstel and Tiger. Its biggest domestic brands are Tui and Export.

BusinessDesk.co.nz

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