Facing a challenge from ThaiBev for control of Asia Pacific Breweries, Heineken has reiterated the superiority of its offer, despite a lower price per share.
The deal is the first equity transaction to hit the Asian markets after the Greek election and comes just days after Tsingtao's shares close at an all-time high.
The Philippine conglomerate halts trading in its shares for the duration of the marketing and sets a preliminary price for the equity portion that suggests a maximum 8.5% discount.
The Japanese beverage company agrees to acquire 14.7% of Fraser and Neave from Temasek in an effort to enhance its footprint and product offering in Asia-Pacific.