Kirin To Sell F&N Stake For $1.6B In Bidding War Fallout

Law360, New York (February 1, 2013, 1:18 PM EST) -- Japanese brewer Kirin Holdings Co. Ltd. said Friday that it would sell its 15 percent stake in Fraser & Neave Ltd. for SG$2 billion ($1.6 billion) after a Thai billionaire inked a deal for the Singaporean conglomerate earlier this month, besting a rival offer Kirin had supported.

By tendering its shares in favor of the SG$13.2 billion offer made by Charoen Sirivadhanabhakdi's TCC Assets Ltd., Kirin — best known for its namesake beer — will rake in a profit of 47 billion yen ($510 million). It...
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