Legal loans in Singapore not just for blue collar worker
San Francisco, CA -- (SBWIRE) -- 10/09/2012 -- Thai Beverage PCL (TBEV.SI) is seeking work with an associate on a possible bid for Fraser and Neave Ltd (F&N) (FRNM.SI) to obtain a piece of the Singapore company’s property and soft drink businesses after Heineken NV (HEIN.AS) took a rank position in the fight to purchase F&N’s esteemed beer brewer.
For the past few months, ThaiBev and Heineken have been fighting for control over Asia Pacific Breweries Ltd (APB) (APBB.SI), the producer of Tiger beer. Over time, Heineken appended its offer to $6.3 billion and allured F&N, which then agreed to unload its APB stake to the Dutch Brewer. The new deal required attention and approval from all the F&N shareholders, including ThaiBev. If the Thai group chooses to gain power over F&N, the transaction could possibly come to a screeching halt.
Sources who have some knowledge of ThaiBev’s proposals note that the group is starting to shift its focus to F&N because of the rewards they would reap with the improved Heineken deal, and then would profit from the potential break-up of F&N’s other wealths, comprising of one of Asia’s biggest real estate compendiums.
ThaiBev stands to profit S$1.16 billion ($940 million) from Heineken taking over APB, based on its 29 percent stake in F&N. It has the potential to bring in more if it takes control of the Singapore conglomerate. However, if any moves are made to block the Heineken transaction, the Dutch brewing company will be forced to walk away, leaving the shares of both F&N and APB vulnerable.
ThaiBev is saying that they have been working with banks to refinance a loan that was taken out to fund primary stake investment in F&N. Under the SIngapore law, it is a requirement to propose for all F&N if its holding flourished to 30 percent. A banking source reported on Monday that ThaiBev was pursuing propositions for loans of around S$9 billion and had talked to multiple lenders, including Singapore, Malaysian, and Japanese banks.
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