Thai Beverage says F&N deal unaffected by Heineken's APB bid
Thai Beverage said an offer by Heineken to buy out F&N's stake in APB has no impact on Thai based beverage group's purchase of 22 percent of F&N.
Thai Beverage's Senior Vice President Vichate Tan-ti-wan-ich told Dow Jones Newswires that its deal with the Singapore drinks maker is already signed.
He said Thai Beverage hasn't discussed a counter bid for APB as the company has just learnt about Heineken's bid.
He declined to comment further on Heineken's move, which may trigger a takeover battle with Thai Beverage.
Thai Beverage is buying stakes in F&N from OCBC, its insurance unit Great Eastern and Lee Rubber nearly $3 billion.
MORE BUSINESS NEWS
Latest Photo Galleries on xinmsn
That an event like the World Cup would bring football-mad Brazilians onto the street was expected, but that it would unite tens of thousands... More That an event like the World Cup would bring football-mad Brazilians onto the street was expected, but that it would unite tens of thousands in protest has caught authorities by surprise. For the second night running Tuesday they flooded the streets of Sao Paulo waving the same green and gold flags they will surely brandish from the stands next year but also shouting themselves hoarse when confronted by authority. Duration: 01:21
Date 2 hrs ago, Duration 1:21, Views 1