27 Jul 2012 --- Heineken N.V. (HNV) has been contacted by Fraser & Neave, Limited (F&N) in relation to the offer by HNV on 20 July 2012 for (i) F&N’s direct and indirect interests in Asia Pacific Breweries Limited (APB) at a price of S$50.00 per APB share (for a total consideration of S$5.1 billion), and (ii) F&N’s interest in the non-APB assets held by Asia Pacific Investment Private Limited, a 50/50 joint venture between HNV and F&N (for a consideration of S$163 million).
At the request of F&N, HNV has agreed to extend the Offer by one week from 27 July 2012, to allow further time for F&N to consider the Offer.
HNV continues to believe that the Offer represents compelling value for F&N shareholders and APB’s minority shareholders. The offer price of S$50.00 per APB share, represents a premium of 45% over the one-month volume weighted average price per APB share.
HNV is keen to agree a consensual deal with F&N, however if HNV is denied the ability to extend its offer to all APB shareholders it will review all options available to protect its commercial interests.
There can be no certainty that a transaction will ultimately be forthcoming. Further announcements will be made if and when appropriate, and in case if and when F&N and HNV enter into final transaction documentation, in compliance with applicable regulatory requirements.