![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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--A Thai billionaire has moved to build his stake in Fraser & Neave Ltd. (F99.SG) by purchasing additional shares, in a move that strengthens his hand in potentially unsettling Heineken NV's (HEIA.AE) plan to take over a prized joint venture with F&N that makes Tiger beer.
The billionaire's stake purchase on Thursday came after his affiliated companies launched a US$7.2 billion takeover bid for F&N. The move gives the Thai tycoon, Charoen Sirivadhanabhakdi, already F&N's single biggest shareholder, more voting power to potentially block Heineken's bid for F&N's stake in APB.
F&N shareholders are due to meet Sept. 28 to vote on Heineken's bid.
TCC Assets Ltd., a vehicle controlled by Mr. Charoen, on Thursday bought an additional 4.2 million F&N shares, or 0.3% of the company, at between 8.70 Singapore dollars (about US$7.12) and S$8.88 apiece, the Thai firm said Friday in a filing to the Singapore Exchange.
The move brings Mr. Charoen's stake in F&N, held through his Singapore-listed brewer Thai Beverage PCL (Y92.SG) and TCC Assets, to 30.66%. TCC Assets didn't state exactly how much it paid for the shares.
Mr. Charoen's takeover offer for F&N, announced Thursday before the market's open, values F&N at S$12.53 billion (US$10.2 billion).
Heineken last month bid US$4.5 billion to buy out F&N's 39.7% stake in APB, one of Asia's most profitable beer businesses. APB has 30 breweries and 40 brands spanning 14 Asian countries. It also brews Heineken beer for some markets in the region.
On Friday, Heineken said it has built its direct stake in APB to 14.21% after buying on Thursday 642,000 shares, or 0.25% of the company, at S$53 apiece. The Amsterdam-based firm also has an indirect stake of 32.4% in Asia Pacific Breweries, held through its 50/50 joint venture with F&N.
Write to Chun Han Wong at chunhan.wong@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year Kirin (PK) Chart |
1 Month Kirin (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions