F & N
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The married deal yesterday was ~2.5%? Was thai bev the buyer? If so they would have about 29% leow, 1% away from the GO
jialat, F& N proposed capital reduction...
gone case...
What's on the news today? F&N is rise and shine
my target price should be at least what TB paid to OCBC ... $8.88
my tots... APB is a gone case... F& N will definitely sell it off to Heineken.
BB may be trying to depress the F& N now, so that minor F& N shareholders with 1-3% will sell off their holdings at higher than mkt price, let's say 8.60, 8.65, 8.70, etc...
after this, I guess price should head north once these are depleted, & the BB will target buying from the retailer shareholders
apb deal more or less sealed. Dun see much meat for it to go top unless a bigger competitor comes in like Bucks or Carlsberg wanting to enter the asean growing market.
But still cannot hit past my price of $8.40...where did u see the $8.60?
here comes the buzz... 35m transacted at $8.60
my gut feel is you have to hold till EGM for the sale to be approved, which by then the price should spiked up maybe a dollar or so...
merlin_magic ( Date: 23-Aug-2012 13:35) Posted:
| Bought at 8.40...I think have to wait for a decade for it to shoot beyond this price..... |
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Hahaha same here.. But there still hope..wait till EGM
i took a look at the charts. my thoughts is buy on rumors sell on news is 80% correct
Bought at 8.40...I think have to wait for a decade for it to shoot beyond this price.....
| Heineken toasts rise in first-half profits |
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THE HAGUE, South Holland - Heineken on Wednesday posted a net profit of 783 million euros (S$1.22 billion) for the first half of 2012, as the giant Dutch brewer moves to expand in the lucrative Asian beer market.
The Amsterdam-based group's sales rose by 4.5 per cent to 8.778 billion euros over the same period, and the bottom line buoyed by the sale of its minority stake in a Dominican brewer for 131 million euros, a statement said.
Heineken also increased its current direct and indirect stake in Asia Pacific Breweries - the target of a friendly takeover - from 42 per cent to 44.6 per cent, its spokesman John-Paul Schuirink told AFP.
Heineken on Friday agreed to a final offer of S$53 a share for Singapore's APB, the makers of Tiger beer, to fend off a Thai rival and gain control of Asia's fast-growing beer market.
The Dutch brewer added it had inked a definitive agreement with Singapore conglomerate Fraser and Neave's board to " irrevocably recommend" the proposed deal to shareholders for F& N's entire stake in APB in a transaction worth a total of S$5.6 billion.
Heineken said it has seen a 3.3 per cent growth in beer volumes despite a " difficult economic environment and unfavourable" weather in Europe, its chief executive Jean-Francois van Boxmeer said in the statement.
One of the world's top five brewers, Heineken was founded in the nineteenth century and produces and sells more than 200 brands of beer and cider including Heineken and Amstel beer and Strongbow cider.
The group employs more than 70,000 people worldwide. |
thai bev may give up the struggle for APB, the $ payout is good for them too... but i dont think F& N other components such as printing, non-alcoholic F& B business and property can be dismembered as easily as APB...
yeah... with a breakup fees of 54m, plus the dangling of special cash payout, it's difficult or rather impossible for ThaiBev to convince other shareholders to come over to its camp. IMHO, I believe Kirin is more prone towards selling APB as only then can it target the drinks biz of F& N.
By selling APB, well both ThaiBev and Kirin should have the chance to " cooperate" and force the mgt to distribute ALL of the proceeds!!!
Guess at this point won't be easy for thai bev to block the APB sales unless it gets voting support from Kirin + another fund house. Even so, there is the break fee of $54 million?
for those who buy F& N n eyeing on the special cash payout, it would not be happening so soon, not at least till the EGM is approved and over. The EGM will most likely happen in Nov, so the payout may well cross over to next year, maybe around the time of full year result announcement.
Today stock price dropped to 8.250.... time to buy!! since FRNN shareholders approved the sale to APB to Hienekin. Looks like THBEV will not be able to block the sale.
Enjoy eating chinese tim sum at terminal 21:)
1419242 ( Date: 21-Aug-2012 19:33) Posted:
CIMB Research cut its target price for Singapore conglomerate Fraser and Neave to S$9.85 from S$10, and kept its 'outperform' rating, after taking into account a 15 percent discount to its property assets. By 0242 GMT, F& N shares were down 0.2 percent at S$8.38, but have gained 35 percent so far this year, compared to the Straits Times Index's 15.9 percent gain. F& N's board last week approved a sweetened $6.35 billion offer from Dutch brewer Heineken for Asia Pacific Breweries Ltd , the maker of Tiger Beer. If the sale of F& N's beer affiliate APB is successful, property will account for more than 80 percent of F& N, CIMB estimated, thus it is now applying a 15 percent discount to F& N's property restated net asset value. " This deal looks set to go through if Thai Bev and Kirin play ball. The potential for special dividends, reinvestment upside and more corporate actions are the expected catalysts for the stock," said CIMB in a note.
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Trading halt again on Aug 21 (Tue) afternoon due to the following annoucement ...
Temasek Holdings Said to Sell APB Brewer Stake to Heineken
http://www.businessweek.com/news/2012-08-21/temasek-holdings-said-to-sell-apb-brewer-stake-to-heineken
