Dutch brewer Heineken Wins Asian Brewer
Heineken N.V. (‘HEINEKEN’) announced that at today’s Extraordinary General Meeting (‘EGM’) in Singapore, shareholders of Fraser and Neave, Limited (‘F&N’) voted in favour of the proposed disposal by F&N of its direct and indirect interests in Asia Pacific Breweries Limited (‘APB’) and F&N’s interest in the non-APB assets held by Asia Pacific Investment Private Limited (‘APIPL’), for a total consideration of S$5.6 billion or €3.5 billion1 (the ‘Transaction’).
The Transaction remains subject to regulatory approvals in Singapore and New Zealand and is expected to close in November 2012, after which APB will be fully consolidated into HEINEKEN’s accounts.
Today’s shareholder approval represents an important milestone for HEINEKEN in gaining full control of APB. HEINEKEN currently holds, directly and indirectly, a 55.6% stake in APB. Upon completion of the Transaction HEINEKEN will own a 95.3% stake2 in APB.
Commenting on the Transaction, HEINEKEN Chairman and Chief Executive Officer Jean-François van Boxmeer said:
“I am pleased that F&N’s shareholders have voted in favour of our offer for APB and been able to realise full value from their investment. Once completed, this transaction will further increase HEINEKEN’s financial and geographic exposure to emerging markets and strengthen our competitive position in one of the most exciting regions in the world. Our regional headquarters will remain in Singapore with the Heineken® and Tiger® brands at the heart of our portfolio. We are now ideally positioned to expand our presence across the region and create long-term financial and strategic value for our shareholders. Finally, I’d like to thank Chairman Lee and the other members of the F&N board, who have supported our offer and recommended it to the F&N shareholders.”
APB will provide HEINEKEN direct access to two of the most exciting emerging markets in the world: Southeast Asia & the Pacific Islands and China.
More at The Dutch Daily News