Indonesia trumps Thailand in battle for Fraser & Neave

A new bid from Riady-controlled OUE values F&N at more than $10 billion.

Indonesia trumps Thailand in battle for Fraser & Neave

Stephen Riady’s Overseas Union Enterprise OUE, a Singapore-listed property company, has joined the race to win control of Fraser Neave FN with an offer that trumps the existing bid made by Thai tycoon Charoen Sirivadhanabhakdi.

OUE, which owns the Marina Mandarin hotel in Singapore, said at the end of last week that it would pay S$13.1 billion $10.7 billion, or S$9.08 a share, for all of FN. If shareholders approve...

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