News Summary: Heineken still intent on Tiger beer

News Summary: Heineken still intent on upping stake in Tiger beer owner Asia Pacific Breweries

Associated Press

THE NEWS: Heineken NV will keep fighting to buy a bigger stake in Asia Pacific Breweries Ltd. despite efforts by another bidder. The Dutch brewer has a 42.3 percent stake in APB, the owner of Tiger beer, Asia's top seller.

THE BACKGROUND: Fraser and Neave Ltd. agreed to sell its 39.7 percent stake in APB to Heineken for 50 Singapore dollars per share, or $4.23 billion, last week. A few days later a company controlled by Thai billionaire Charoen Sirivadhanabhakdi offered Fraser and Neave 55 Singapore dollars per share for a 7.3 percent stake in APB.

WHAT'S NEXT: Some analysts believe Heineken will have to raise its offer for the assets.

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