Singapore: ThaiBev completes share swap of FPL for F&N

Thai Beverage Public Company (ThaiBev) shareholders have voted to approve the share swap between its indirectly wholly-owned subsidiary InterBev Investment (IBIL) and TCC Assets (TCCAL) at an extraordinary general meeting (EGM) held in Bangkok, Thailand, on Sept 20. According to ThaiBev's announcement 93.2798% of the total number of votes cast at the EGM were in favour of the share swap, The Edge Singapore reported on September 20.

IBIL and TCCAL have also completed the share swap, which involved IBIL transferring to TCCAL all of its 28.78% shareholding in Frasers Property Limited (FPL), and TCCAL transferring to IBIL its 41.30% shareholding in Fraser and Neave (F&N).

Following this, ThaiBev (through IBIL) has become the holding company of F&N and its subsidiaries, and ThaiBev and IBIL have ceased to hold any interest in FPL.

ThaiBev closed at 53 cents on Sept 19, down 2.78% this year. F&N closed at $1.28 on Sept 19, up 19.63% year-to-date.

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