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1234567 ( Date: 21-Aug-2012 16:47) Posted:
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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.
1234567 ( Date: 21-Aug-2012 16:47) Posted:
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pse wake up! what talking u?
Lim& Tan's report:
To help ensure “success”, we expect F& N’s board to do better than what it has said so far about the $5.6 bln proceeds (which works out to $3.92 per F& N
share ) from the sale of the 39.66% stake in APB.
1234567 ( Date: 21-Aug-2012 16:47) Posted:
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Precisely, Fully agreed.
They just pull out F& B, This " sweet can" inside full of worthlessness sweetie.
merlin_magic ( Date: 21-Aug-2012 11:44) Posted:
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Fall is good so that I can take the opportunity to buy....
Swept a few lots at 8.40 earlier....
F& N: Has agreed to accept offer by Heineken to acquire interest in APB at $53 per share. The 32.4% stake is valued at approx $4.43b with its 7.3% direct stake at $994m, a 6.0% increase over Heineken's prev offer.
There is also a break fee of $55.9m payable to Heineken if co’s sh/h does not approve the transaction. Heineken will undertake not to manufacture or distribute soft drinks in Sg, Papua New Guinea, Cambodia and Vietnam if the transaction goes through and likewise F& N will not sell brewery products in these locations as well. Heineken’s prev offer was also only for co’s direct stake while the current revised offer includes co’s entire interest.
The deal is given a timeline of 120 days from 18 Aug before it lapses. This is approx 35.1x P/E and $2 lower than Kindest’s partial offer (only for direct 7.3% stake) at $55.
CIMB maintains outperform but decreases TP to $9.85 from $10.00
> > Singapore's OCBC sells F& N, APB stakes for US$2.55 bln:-
I think you should count yourself lucky for holding F&N. Its decline is mild compared to other blue chips.
still waiting for $4.60
Hi all,
What do you all think about the prospect of this share. Have lost alot on paper man. Will the nearing of the ex-divy date lead to a surge in buying interest thereby pushing the price upward? It's a strong company F&N, but of late the press coverage has not been rosy. Hope for some guidance or thoughts at least.
Rgds.
I thought it is more like KOPI-O KOSONG $.
Is this a good KOPI $$?
Company | Particulars | Ex-Date | Rec. Date | Paid/Payable |
|---|---|---|---|---|
 FRASER AND NEAVE, LIMITED | DIVIDEND : SGD 0.085 FINAL ONE-TIER TAX | 11 Feb 2008 | 13 Feb 2008 | 26 Feb 2008 |
make some kopi $$$ this morning - short $4.78