A mystery bidder has made an offer to buy Oversea-Chinese Banking Corps (OCBC) and Great Eastern Holdings’ (GEH) combined stake in Fraser & Neave and Asia Pacific Breweries.
OCBC and GEH announced to the Sinapore stock exchange yesterday (16 July) that they have been “approached with an offer” and were “having discussions” on the matter. However, the filing did not indenity the bidder.
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One report suggested, based on anonymous sources, the bidder could be TCC Group, the parent company of Thailand-based beer and spirits firm ThaiBev.
OCBC and GEH hold a joint 18.2% stake in Singapore-based conglomerate Fraser & Neave. Meanwhile, OCBC holds a separate 7.92% stake in Tiger Beer producer Asia Pacific Breweries, which is jointly-owned by Fraser & Neave and Heineken.
“OCBC and GEH will make appropriate announcements at the relevant time should circumstances merit such announcements,” the filing concluded.
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