22 Jan '13, 6am

Thai Billionaire Trumps Indonesian Rival In $11.2B Singapore Takeover

Thai Billionaire Trumps Indonesian Rival In $11.2B Singapore Takeover

A drawn-out contest for control of Fraser & Neave , a Singapore -listed drinks-to-property group appears to be over. Last week Thai beer tycoon Charoen Sirivadhanabhakti sweetened his bid for the company, in which he already holds a major stake. A deadline for the rival bidder, Indonesia ‘s Stephen Riady, to raise his offer to shareholders expired Monday . This clears the way for a tender offer from Charoen, who ranked third on FORBES’ 2012 Thai Rich List with a $6.2 billion fortune. The size of the deal has excited interest from fixed-income bankers who anticipate that the winning side would need to tap debt markets. The deal is expected to close in the next month provided shareholders accept a formal tender bid.

Full article: http://www.forbes.com/sites/simonmontlake/2013/01/22/thai...

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