The third-richest man Thailand designate Ahold F&N

Singapore: third richest Man in Thailand is poised to dominate the Fraser and Neave Ltd (F&N) soon largest acquisition through activities in Southeast Asia.

It after the group led the Indonesian wealth fail in bid to take over America drinks and real estate based in Singapore.

The group led Stephen Riady, Overseas Union Enterprise Ltd withdrew after the company Thailand, TCC Assets Ltd, headed by millionaire Charoen Sirivadhanabhakdi (small picture), increase the acquisition offer for F&N to over S $ 8 billion (RM 19.58 billion) for property and business portfolio of soft drinks, dairy and printing F&N.

Charoen, which already owns 42.5 percent share F&N, through TCC Assets and Thai Beverage PCL.

The offer made by them at a price of S $ 9.55 per share last week for F&N shares that are not held by it in the Singapore conglomerate that involves value around S $ 13.75 billion (US $ 7.0 billion).

' F&N have the time to make a decision about whether to accept or reject the offer until early next month.
Real estate franchise benefits

"Once the offer becomes unconditional, we tend to see action TCC to integrate the operations of F&B (food and beverage) with F&N. in addition, it will also take advantage of real estate franchise F&N regional and global," said Nomura Equity Research Head for Asia, Jit Soon Lim.

Lim explains, Charoen may sell business printing and publishing F&N estimated amounting to approximately S $ 320 million.

Interest in F&N announced Charoen publicly when his company became a shareholder of F&N in July last year, tried to buy the interests of F&N producer Tiger Beer, Asia Pacific Breweries Ltd.

However, he failed in the struggle when the F&N selling interest to liquor manufacturer Netherlands, Heineken NV at a price of S $ 3.5 billion in September.

The millionaire, who also was the son of a street vendor in Bangkok, quickly make an offer of S $ 8.88 per share for the remaining shares F&N.

F&N is the leader in the soft drinks market in Malaysia and Singapore, with the market share of the respective 19.4 per cent and 13.3 per cent, so according to the Euromonitor research firm. -REUTERS

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