ThaiBev Ups F&N Stake By $252M In Bid To Block Heineken

Law360, New York (August 28, 2012, 3:23 PM EDT) -- Thai Beverage PCL paid SG$316 million (US$251.8 million) to ratchet up its stake in Singapore beverage company Fraser & Neave Ltd. to 29 percent, ThaiBev said Tuesday, adding to its ongoing opposition to Heineken NV's takeover push for F&N's brewery subsidiary.

The additional 2.6 percent stake brings ThaiBev's total F&N interest just below the 30 percent threshold, at which point the Thai company would be required under Singapore law to lodge an “open offer” for the rest of the Singaporean company.

But even without its own...
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