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Singapore - Heineken said on Friday it is offering $4.1bn for a majority stake in the Singapore-based maker of Tiger beer, attempting to neutralise a competing bid for influence over the brand from Thailand's biggest beverage maker as the Dutch brewer expands in emerging markets.
Heineken said it is offering 50 Singapore dollars ($40) a share to Fraser & Neave, which shares ownership of the Tiger beer maker Asia Pacific Breweries with Heineken. That deal is worth S$5.1bn ($4.1bn) in total.
If that offer succeeds, Heineken would spend a further S$2.4bn to buy out the minority shareholders in APB.
The Dutch brewer's move comes after Thai Beverage earlier this week said it had entered into agreements with three shareholders to take a 22% stake in Fraser & Neave for S$2.8bn.
The Amsterdam-based company said in a statement that increasing its stake in APB, which also brews Heineken beer, is consistent with its strategy of growing in emerging markets. In recent years it has bought brewers in Mexico and Brazil, expanded in India through a partnership and increased its presence in Africa.
Heineken currently has a 41.9% stake in APB through a direct 9.5% shareholding and an indirect shareholding of 32.4% that is held through a joint venture with Fraser & Neave. The Singapore food and beverage conglomerate owns 39.7% of APB via the joint venture and a 7.3% direct stake.
Heineken said its offer is a 45 premium to the average price of APB shares in the past month.
