In what looks to be the conclusion of a long-running saga, shareholders in Singapore-based conglomerate Fraser and Neave have voted to sell its beer business to the company.
The fastest growing market for beer in the world, it comes as little surprise that some of the lobes biggest brewers are increasing turning their attention to Asian nations and identifying them as core growth markets for the future.
Also responsible for brand including Bintang and Anchor, APB is already majority owned by Heineken, with Fraser and Neave holding a 40 percent stake in the business.
Having previously offered a value of S$50 a share to take full control of the business, the turning point for Heineken came in August when it increased this to S$53 a share, thus valuing Fraser and Neave’s holding at 5.6 billion Singapore dollars.
