Thai Beverage Public Company Ltd. or "ThaiBev", TCC Assets Limited or "TCCA" and Dutch brewer Heineken N.V. (HINKY.PK) made an announcement relating to the proposed disposal by Fraser and Neave, Ltd. (F99.SI) or "F&N" of its interests in Asia Pacific Breweries Ltd. and Asia Pacific Investment Private Ltd. to Heineken International B.V. According to Heineken, ThaiBev irrevocably undertakes to procure that International Beverage Holdings Ltd. or "IBHL" votes all the shares in F&N held, owned or controlled by IBHL at the time of the F&N EGM in favour of Resolution 1.
In addition, TCCA irrevocably undertakes to vote all the shares in F&N held, owned or controlled by TCCA at the time of the F&N EGM favouring Resolution 1; while HEINEKEN irrevocably undertakes not to make a general offer for shares in F&N under the Singapore Code on Take-overs and Mergers.
Heineken stock is currently climbing 6.3 percent in Amsterdam at 45.53 euros.
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by RTT Staff Writer
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