Heineken NV says it has clinched a deal to take majority ownership of Singapore-based Asia Pacific Breweries, the maker of Tiger beer.
Heineken said that Fraser and Neave, a co-owner of Asia Pacific Breweries, has agreed to tender its shares to the $4.23 billion offer Heineken made in July.
Fraser and Neave will sell its 40% stake for 50 singapore dollars per share, a 45% premium to APB's share price before the offer was announced July 20.
Fraser's board will recommend the deal to shareholders, though final details have not been negotiated.
The deal would give Heineken a controlling 82% stake in APB.
Heineken will then try to buy out remaining shareholders.
APB also owns Asia's popular Bintang and Anchor brands.
