News Headline Summary

Kirin Holdings Co. (2503 JT) said Thursday it will join hands with Indonesia's real estate firm Overseas Union Enterprise Ltd. to try to acquire Fraser and Neave Ltd., in a showdown with a rival bid from a major Thai group

- The Japanese company's move came as OUE announced its plan to launch a bid for the Singaporean beverage and real estate giant to counter a tender offer from Thai Beverage Plc. Kirin currently holds a stake of about 15% in F&N.

- OUE will offer 9.08 Singapore dollars per F&N share, or about 590 yen. Under the plan, Kirin will sell off its holdings in F&N to OUE for about 125 billion yen. If OUE's bid is successful, Kirin would purchase F&N's beverage business segment from OUE for about 175 billion yen. So the Japanese firm would pay the difference of some 50 billion yen to OUE.

Full article:

15 Nov 2012 - 23:10 - Equities - Source: Nikkei

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