Asia Pacific Breweries Ltd. of Singapore said it had launched an offer to take over New Zealand DB Group Ltd at NZ$ 2.80 per share.
“Asia Pacific Breweries Ltd. announced its intention to make a writ…
Asia Pacific Breweries Ltd. of Singapore said it had launched an offer to take over New Zealand DB Group Ltd at NZ$ 2.80 per share. “Asia Pacific Breweries Ltd. announced its intention to make a written takeover offer for 100% of DB Group Ltd through the purchase of the 41.6% of the company that it does not already own,” APB said in a statement. It said the cash offer of NZ$ 2.80 represented NZ$ 2.88 per share, after the payment of an eight-cent dividend by DB Group on February 11. Brewer and winemaker DB Group is undergoing long-term restructuring and last year began a staged exit from its liquor retailing and wholesaling operations, APB said. Brewer APB, owned by Dutch brewer Heineken NV and Singapore“s diversified food and beverage firm Fraser & Neave Ltd., said it remained committed to development of its business in the Asia Pacific, including the DB Group. The written offer will be mailed to all shareholders on or around February 23 and will close on March 27 unless extended by APB, it said.