Heineken extends its offer to acquire all shares of Singapore-based Asia Pacific Breweries it doesn't already own to Jan. 18

Nevin Barich

January 8, 2013 (EquityBites) – Dutch brewer Heineken NV (AMS:HEIA) announced today it had extended to 18 January 2013 its mandatory unconditional cash offer for all of the shares not already owned by it in Singapore-based beer maker Asia Pacific Breweries Ltd (SGX:A46), or APB.

The bid was launched by Heineken International BV (HIBV) in early December and targets the 4.7% interest it does not already have in APB. The move followed the Dutch company's purchase of the direct and indirect stake in APB held by Singapore's Fraser & Neave Ltd's (SGX:FNN), or F&N, for SGD5.6bn (USD4.6bn/EUR3.5bn).

Today, Heineken said that by 7 January it had secured a total shareholding of about 99.34% through the offer, including the shares it already had. The company added it expects to delist APB from the Singapore stock exchange on or around 14 March 2013.

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