* F&N; already subject of $7.2 billion takeover bid by Thai
group
* F&N; earlier rebuffed a bid for its hospitality unit
* Shares of OUE, F&N; suspended on Friday
SINGAPORE, Oct 19 (Reuters) – A firm backed by Indonesia’s
Lippo Group said it may make a takeover bid for Singapore group
Fraser and Neave Ltd (F&N;), already the subject of a
$7.2 billion takeover bid by companies linked to Thai
billionaire Charoen Sirivadhanabhakdi.
The unexpected move by Overseas Union Enterprise Ltd (OUE)
, a Singapore hotel and property group, comes after F&N;
rebuffed a S$1.4 billion ($1.1 billion) bid for its hospitality
and serviced residences unit this month. Sources said the bid
was made by OUE.
“OUE wishes to state that it is in discussions with certain
parties and is considering all options with respect to F&N;,
including an offer for F&N; shares,” OUE said in a statement.
Shares of both OUE and F&N; were suspended on Friday.
F&N; declined to comment.
Companies linked to Charoen have offered $7.2 billion to
take over all of F&N; after it agreed last month to sell its
nearly 40 percent stake in Tiger beer maker Asia Pacific
Breweries Ltd to Heineken NV.
F&N; said the Thai offer of S$8.88 per share was at the low
end of an estimated sum-of-the-parts valuation of between S$8.30
and S$11.22.
The Charoen-linked companies are collectively F&N;’s largest
shareholder with a 33.5 percent stake, while Japan’s Kirin
Holdings Co Ltd is the second-biggest with nearly 15
percent.
