Tug-of-war for Tiger Beer continues

Facing a challenge from ThaiBev for control of Asia Pacific Breweries, Heineken has reiterated the superiority of its offer, despite a lower price per share.

Tug-of-war for Tiger Beer continues
Playing it cool: Heineken is confident its offer is superior to ThaiBev's bid

Heineken yesterday hit back at a rival bid for control of Singapore’s Asia Pacific Breweries, the maker of Tiger Beer, making sure to point out the inferiority of the unsolicited offer.

The Dutch brewer owns half of Asia Pacific Breweries through a joint venture with Fraser and Neave, but found its investment under threat last month after a challenge from a group led by the billionaire founder of ThaiBev, Charoen Sirivadhanabhakdi.

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