SINGAPORE - Thai billionaire Charoen Sirivadhanabhakdi has increased his stake in Fraser & Neave Ltd to almost 40% and raised his takeover offer for the Singaporean real estate and soft-drink company to block a rival group.
Mr Charoen's TCC Assets has bid S$9.55 a share, topping a Nov 15 offer of S$9.08 from a group led by Overseas Union Enterprise Ltd, according to a statement made to the Singapore Exchange after the market closed on Friday.
The Thai liquor and property tycoon's latest offer is a 0.3% discount to Friday's closing price of S$9.58 and values the company at S$13.8 billion (US$11.2 billion).
Keep up-to-date with the latest on coup d'etat with Bangkok Post SMS News. Call *451391000 to subscribe – 39 baht/month (7 days free, available in Thailand only) Bangkok Post SMS News: Deliver only trustworthy news on SMS
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.