ThaiBev To Pay $2B For Stake In Singapore Beverage Co.

Law360, New York (July 18, 2012, 3:41 PM EDT) -- Thai Beverage PCL will pay a bank and a rubber manufacturer 2.78 billion Singapore dollars ($2.21 billion) for their combined 22 percent stake in Singapore beverage business Fraser & Neave Ltd., broadening the Thai company's reach outside its home market, according to Wednesday regulatory filings.

In the deal, ThaiBev will lift the stake from Oversea-Chinese Banking Corp. Ltd. and its subsidiary Greater Chinese Holdings Ltd., along with Lee Rubber Co. Pte. Ltd. The SG$8.88-per-share price offered in the deal represents an 11 percent premium over Tuesday's...
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