Someone else wants to buy F&N's APB shares

A S$55/share bid to buy about 7.3 percent of Asia Pacific Breweries has been made.

A Bloomberg report said, “Kindest Place Groups, owned by Charoen Sirivadhanabhakdi’s son-in-law, yesterday offered to buy a 7.3 percent stake in the Singapore-based company from Fraser & Neave Ltd. for S$55 a share. That topped the S$50 a share that Heineken, which already owns 42 percent of APB, offered F&N for a 40 percent holding, a proposal that was recommended by F&N’s board.”

Meanwhile CIMB believes a bidding war over APB shares has begun.

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