Heineken wins bid for Tiger beer

Heineken International has agreed to buy Fraser and Neaves controlling stake in the maker of Tiger beer.

Dutch brewing company Heineken International has agreed to buy Singapore-based Fraser and Neaves controlling stake in the maker of Tiger beer in a deal worth 5.6 billion Singapore dollars (4.5 billion US Dollars).

Heineken had raised its bid from 50 to 53 Singapore dollars per share.

According to the BBC,Fraser and Neave confirmed it had accepted an improved offer from Heineken for its 40 per cent stake in Asia Pacific Investment Pvt Ltd (APIPL).

Story continues below this ad

APIPL is a joint venture between Heineken and Fraser and Neave,which operates Asia Pacific Breweries (APB).

Our Asian headquarters will continue to be based in Singapore,and we remain 100% committed to the growth and success of APB and the Tiger brand, Heinekens Chief Executive,Jean-François van Boxmeer,said in a statement.

According to the report,if approved,the deal would give Heineken an 81.6 percent stake in APB triggering an automatic takeover offer for the outstanding shares in the company,which would cost a further 2.5 billion Singapore dollars. As part of the deal,Fraser and Neave has promised not to solicit,engage in discussions or accept any alternative offer or proposal for its interests in APB,the report added.

Termed as GST Bachat Utsav by Prime Minister Narendra Modi on Sunday, the rate rationalisation is meant to leave more disposable income in the hands of people

As GST 2.0 kicks in: what changes for consumers and industry

Explained2 hr ago

The government has introduced significant changes to the GST structure, aiming to lower tax rates for various goods and services. This includes exemptions for Indian bread and health insurance, reduced taxes for beauty and well-being services, and addressing the inverted duty structure. The changes, effective immediately, are expected to boost household spending and encourage investments.

View all shorts

Live Blog