Heineken (HNV) has been contacted by Fraser & Neave, (F&N) in relation to the offer by HNV for F&N’s direct and indirect interests in Asia Pacific Breweries (APB).
At the request of F&N, HNV has agreed to extend the offer by one week from 27 July, to allow further time for F&N to consider the offer.
HNV continues to believe that the offer represents compelling value for F&N shareholders and APB’s minority shareholders. The offer price of S$50 per APB share, represents a premium of 45% over the one-month volume weighted average price per APB share.
HNV is keen to agree a consensual deal with F&N, however if HNV is denied the ability to extend its offer to all APB shareholders it will review all options available to protect its commercial interests.
The company stated: There can be no certainty that a transaction will ultimately be forthcoming. Further announcements will be made if and when appropriate, and in case if and when F&N and HNV enter into final transaction documentation, in compliance with applicable regulatory requirements.
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