Thai Beverage Says Conditional Share Swap Agreement Between Interbev Investment & TCC Assets
Thai Beverage PCL plans to increase its stake in F&N and divest its stake in FPL through a conditional share swap agreement with Interbev Investment Limited and TCC Assets Limited. The proposed share swap will see IBIL transferring its shareholding in Frasers Property to TCCAL. The share swap will be executed at a ratio of approximately 1.88 FPL shares for each F&N share. Thai Beverage will no longer hold any interest in FPL upon completion. The Securities Industry Council of Singapore ruled that IBIL is not required to make a general offer for F&N.
July 18 (Reuters) - Thai Beverage PCL (TBEV.SI) :
CONDITIONAL SHARE SWAP AGREEMENT BETWEEN INTERBEV INVESTMENT LIMITED AND TCC ASSETS LIMITED
THAIBEV WILL INCREASE ITS STAKE IN F&N AND FULLY DIVEST ITS STAKE IN FPL
THROUGH INTERBEV INVESTMENT PROPOSED A SHARE SWAP WITH TCC ASSETS
PROPOSED SHARE SWAP WILL SEE IBIL TRANSFERRING TO TCCAL ALL OF ITS 28.78% SHAREHOLDING IN FRASERS PROPERTY
UPON COMPLETION, THAIBEV WILL CEASE TO HOLD ANY INTEREST IN FPL
PROPOSED SHARE SWAP WILL BE EXECUTED AT A RATIO OF APPROXIMATELY 1.88 FPL SHARES FOR EACH F&N SHARE
RECEIVED A RULING FROM SECURITIES INDUSTRY COUNCIL OF SINGAPORE THAT IBIL WILL NOT BE REQUIRED TO MAKE A GENERAL OFFER FOR F&N
ON PRO FORMA BASIS, CONSOLIDATION TO RESULT IN 4.3% ACCRETION IN EPS FROM 1.06 BAHT TO 1.10 BAHT FOR 12 MNTHS ENDED 31 MARCH 2024 Further company coverage: (TBEV.SI)
