SINGAPORE, Aug 21 (Reuters) - Shares of Asia Pacific Breweries Ltd (APB) soared to a record in Singapore trading on Tuesday after Dutch brewer Heineken sweetened its offer for the maker of Tiger Beer to $6.35 billion.
Heineken, which raised its offer for Singapore conglomerate Fraser and Neave’s stake in APB to S$53 a share last week from S$50, is seeking control of the brewer to gain a larger slice of one of the last beer markets that is still growing rapidly.
The Dutch brewer’s new offer puts the spotlight back onto APB’s other suitor Thai billionaire Charoen Sirivadhanabhakdi, who is looking to expand the empire of Thai Beverage in Southeast Asia.
Thailand’s second-richest man had thrown a spanner in Heineken’s plans after his son-in-law’s company Kindest Place offered to buy F&N’s direct stake of 7.3 percent in APB for S$55 a share.
“All eyes will be on Kindest Place or ThaiBev’s next moves, but we believe a competing offer for APB by Kindest is unlikely given the financial resources required,” said DMG & Partners analyst Goh Han Peng in a note.