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Thread: lots of interest in Singapore assets

  1. #1
    Join Date
    May 2008
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    Default lots of interest in Singapore assets

    Fraser & Neave Gets S$1.4 Billion Offer for Hospitality Unit
    By Joyce Koh - Oct 10, 2012 8:22 AM GMT+0800

    Fraser & Neave Ltd. (FNN), the Singapore- based conglomerate that agreed to sell its brewing assets to Heineken NV (HEIA), got a S$1.4 billion ($1.1 billion) offer for its hospitality and serviced residence business.
    F&N, which didnít identify the bidder, said it wonít respond to the offer, citing takeover rules and the businessís value within its property division, according to a statement to the Singapore exchange today. The party making the bid isnít related to any directors or substantial shareholders, it said.
    Enlarge image
    The offer complicates a S$9 billion takeover bid Thai billionaire Charoen Sirivadhanabhakdi made last month to gain control of the conglomerate. Fraser & Neave is set to complete the sale of its brewing business to Heineken for S$5.6 billion later this year. Photographer: Munshi Ahmed/Bloomberg
    The offer complicates a S$9 billion takeover bid Thai billionaire Charoen Sirivadhanabhakdi made last month to gain control of the conglomerate. Fraser & Neave is set to complete the sale of its brewing business to Heineken for S$5.6 billion later this year.
    Japanís Kirin Holdings Co. (2503), which has a 15 percent stake in F&N, has said it is interested in its soft-drink and food businesses.

  2. #2
    Join Date
    Mar 2012
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    4,990

    Default

    few and far between.... true homegrown brands getting torn apart in foreign pieces

  3. #3
    Join Date
    Sep 2009
    Posts
    162

    Default

    really sad... a good brand is not easy to build...

    the time to sell is actually "never", unless it's a family business and 2nd / 3rd / 4th generation dun want to continue...

    what a waste... haiz....

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