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| Heineken wins shareholder approval for Tiger beer takeover | Heineken wins shareholder approval for Tiger beer takeover |
| (35 minutes later) | |
| Shareholders in Singapore-based conglomerate Fraser and Neave have voted to sell the company's beer business to Heineken. | Shareholders in Singapore-based conglomerate Fraser and Neave have voted to sell the company's beer business to Heineken. |
| The Dutch brewer will take control of Asia Pacific Breweries (APB), which makes the popular Tiger beer. | |
| The decision comes after a battle between Heineken and Thai billionaire Charoen Sirivadhanabhakdi for the strategic asset. | The decision comes after a battle between Heineken and Thai billionaire Charoen Sirivadhanabhakdi for the strategic asset. |
| Asia is the fastest growing market globally for beer. | Asia is the fastest growing market globally for beer. |
| APB is behind some of the most popular beers in the South East Asia region, including Bintang in Indonesia and Anchor. | |
| Heineken already had a 56% stake in APB, while Fraser and Neave held about 40%. | Heineken already had a 56% stake in APB, while Fraser and Neave held about 40%. |
| The battle for control of the Asian brewer began in July, when companies linked to Mr Sirivadhanabhakdi bid for stakes in Fraser and Neave as well as APB. | The battle for control of the Asian brewer began in July, when companies linked to Mr Sirivadhanabhakdi bid for stakes in Fraser and Neave as well as APB. |
| That prompted Heineken to protect its assets in the region by trying to gain full control of APB, which has been a joint venture between Fraser and Neave and Heineken for decades. | That prompted Heineken to protect its assets in the region by trying to gain full control of APB, which has been a joint venture between Fraser and Neave and Heineken for decades. |
| After a series of moves that analysts called a bidding war for control of APB, on 19 September Mr Charoen's companies said they would support the Heineken bid. | After a series of moves that analysts called a bidding war for control of APB, on 19 September Mr Charoen's companies said they would support the Heineken bid. |
| In August, Heineken offered 5.6bn Singapore dollars ($4.6bn; £2.8bn), or S$53 a share. That was up from an earlier offer of S$50. | In August, Heineken offered 5.6bn Singapore dollars ($4.6bn; £2.8bn), or S$53 a share. That was up from an earlier offer of S$50. |
| The Heineken takeover still requires approval from Singapore regulators. | The Heineken takeover still requires approval from Singapore regulators. |