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Name | Symbol | Market | Type |
---|---|---|---|
Kirin Holdings Company Limited (PK) | USOTC:KNBWY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.04 | -0.31% | 12.88 | 12.82 | 13.00 | 12.98 | 12.8475 | 12.87 | 191,268 | 21:02:10 |
SINGAPORE--Heineken NV (HEIA.AE) bought over $40.2 million worth of Asia Pacific Breweries Ltd. (A46.SG) shares on Wednesday, raising its direct stake in the Singapore company to 12.54% as the Dutch brewer continues shoring up its bid to acquire the maker of Tiger Beer.
Heineken bought 945,000 APB shares--or about 0.37% of the company--at 53 Singapore dollars ($42.60) apiece through block trades and open-market purchases, the world's third-largest brewer by sales said Thursday in a filing to the Singapore Exchange.
The share purchases extend similar efforts by Heineken on Tuesday, when the Dutch firm bought more than 6.9 million APB shares, or 2.68% of the company, for S$53.
Heineken had agreed this weekend to pay S$5.6 billion for Fraser & Neave Ltd.'s (F99.SG) direct and indirect stakes in APB with an improved offer of S$53 per APB share. Heineken, which originally offered S$50 per share, said that with its sweetened offer, it would now cost US$6.3 billion to buy all of APB.
F&N--a Singapore conglomerate with interests in beer, property and publishing--and Heineken share a 50-50 joint venture that owns 64.8% of APB. F&N also owns a 7.3% direct stake in APB.
Excluding F&N's stake, Heineken's direct and indirect interest in the 81-year old APB joint venture now stands at about 44.9%. Heineken's deal to buy F&N's stakes in APB are subject to approval from F&N shareholders.
With the latest purchases, and assuming F&N shareholders approve the sale to Heineken, Heineken's deemed interest in APB would rise to 84.61%.
Heineken hasn't said from whom it bought the APB shares in the latest round of purchases.
Write to Chun Han Wong at chunhan.wong@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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