Heineken's acquisition of APB approved by Competition Commission of Singapore

theflyonthewall.com

Heineken N.V. announced that the Competition Commission of Singapore, or CCS, has granted clearance for the acquisition by Heineken International B.V., or 'HIBV, of Fraser and Neave, Ltdd's, or F&N, direct and indirect interests in Asia Pacific Breweries Ltd, or APB, and F&N's interest in the non-APB assets held by Asia Pacific Investment Private Ltd, or APIPL. The CCS has found that the Transaction, if carried into effect, will not infringe the Section 54 prohibition of the Competition Act of Singapore. Upon completion of the Transaction, Heineken will own in aggregate a 95.3% stake in APB. After completion of the Transaction, HIBV will make a mandatory general offer, or MGO, for all the shares of APB that the Heineken group does not already own, in accordance with the Singapore Code on Take-overs and Mergers. Subsequently, Heineken will seek to delist APB. Further details of the MGO will be provided in the MGO Announcement to be made by Credit Suisse and Citi on behalf of HIBV on completion of the Transaction.

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