20 Aug 2012

Controlling stake in APB acquired by Heineken

8:35 am on 20 August 2012

Heineken has bought a controlling stake in the owner of DB Breweries in a deal worth $US4.5 billion ($5.6 billion Singapore).

An improved bid by the Dutch brewer secured a stake of 40% held by Fraser & Neave of Singapore in Asia Pacific Breweries.

Fraser & Neave's shareholders now need to approve the sale, which was announced on Saturday.

If confirmed, the deal would give Heineken a stake of 82% in Asia Pacific Breweries, triggering an automatic takeover offer for the remaining shares of APB.

The BBC reports this would cost a further $2.5 billion Singapore.

The company will continue to be based in Singapore.