Singapore: Heineken buys additional shares in Asia Pacific Breweries Ltd
Singapore's Asia Pacific Breweries (APB), which makes Tiger beer, said July 28 Dutch brewer Heineken has raised its stake in the firm, a day after APB's stock soared nearly 30 percent, Reuters released July 28.
The company said in statement that Heineken International B.V. had increased its direct equity stake marginally to 9.52 percent from 9.29 percent by buying shares on the stock market.
Heineken, the world's fourth-largest brewer by sales, is Asia Pacific Breweries' biggest shareholder with a total 65.1 percent stake. The bulk of the shares are owned indirectly through an investment vehicle named Asia Pacific Investment.
In addition, Singapore publishing-to-real-estate conglomerate Fraser and Neave has a direct holding of 4.77 percent in APB, which was set up as a joint venture between Fraser and Neave and Heineken.
Earlier July 28, APB halted trading in its shares as of 9 a.m. (0100 GMT), pending the announcement. Its shares jumped almost 30 percent July 27 to reach SG$14.20 - the highest level in a year - and nearly 60 percent above levels at the start of the year.
The company, worth around US$2.3 billion on the stock market after the share's surge, said in a statement July 27 that it was not aware of any information which could explain the surge in its shares.
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