Heineken N.V. (‘HEINEKEN’) announced that at today’s Extraordinary General Meeting (‘EGM’) in Singapore, shareholders of Fraser and Neave, Limited (‘F&N’) voted in favour of the proposed disposal by F&N of its direct and indirect interests in Asia Pacific Breweries Limited (‘APB’) and F&N’s interest in the non-APB assets held by Asia Pacific Investment Private Limited (‘APIPL’), for a total consideration of S$5.6 billion or €3.5 billion1 (the ‘Transaction’).
The Transaction remains subject to regulatory approvals in Singapore and New Zealand and is expected to close in November 2012, after which APB will be fully consolidated into HEINEKEN’s accounts.
Today’s shareholder approval represents an important milestone for HEINEKEN in gaining full control of APB. HEINEKEN currently holds, directly and indirectly, a 55.6% stake in APB. Upon completion of the Transaction HEINEKEN will own a 95.3% stake2 in APB.