Dutch beer giant Heineken said Thursday it had completed its acquisition of Fraser and Neave’s (F&N) share of Asia Pacific Breweries (APB) as part of the takeover of brand Tiger Beer.
“As a result Heineken currently owns in aggregate a 95.3% stake in APB and will consolidate APB into its accounts in November 2012,” the brewer said in a statement.
The company said it would also make an offer for the remaining shares in APB that it does not already own.
F&N shareholders in September approved Heineken’s offer of Sg$5.6 billion (3.6 billion euros) for its 40 percent stake in APB, which has breweries in 14 markets including China.
Amsterdam-based Heineken is seeking to boost sales in fast-growing Asian economies as demand falls in mature markets like Europe, where a prolonged financial crisis is dampening consumer spending.
Heineken completes acquisition of F&N stake in APB
