Fraser & Neave shares sold by BIL

Investment firm BIL International Ltd on Thursday sold shares in Singapore beverage group Fraser & Neave Ltd (F&N) for the third straight day to cut its stake to 9.909%.
BIL, formerly the Brierley gr…

Investment firm BIL International Ltd on Thursday sold shares in Singapore beverage group Fraser & Neave Ltd (F&N) for the third straight day to cut its stake to 9.909%. BIL, formerly the Brierley group, said in a statement it sold 1.46 million shares through its unit Inscribe Investments Ltd. The sales mark a reversal by BIL, which had accumulated the F&N stake over the last 24 months at an estimated average price of around SGD 6.00 per share, analysts said.