New development in bid for Asia Pacific

As the DRAM went to press, Heineken’s £2.6bn bid for Asia Pacific – the makers of Tiger Beer – has taken an unexpected twist. Thai firm, Kindest Place, has now offered to buy a stake in the brewer. It wants a 7.3% stake in the company, currently owned by Fraser and Neave, which is 10% higher than Heineken’s offer. F&N’s board had accepted Heineken’s bid but it requires shareholder approval, now Heineken may have to up its offer if it wants shareholder approval. If successful, it would give the brewer a greater presence in the fast-growing Asian market. It has so far failed to gain the scale that rivals AB InBev and SAB Miller have built in China, the world’s largest beer market by volume.