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ThaiBev Gets Loan of $2.3 billion to Purchase 22% Stake in Fraser and Neave

ThaiBev Gets Loan of $2.3 billion to Purchase 22% Stake in Fraser and Neave

Southeast Asian nation’s biggest brewer, Thai Beverage Pcl has won the loan facility of $2.8 billion from global banks in order to finance the buy a 22 percent stake in Fraser and Neave Ltd.

ThaiBev is a wholly owned subsidiary International Beverage Holdings Ltd. HSBC Holdings, Standard Chartered and Sumitomo Mitsui Financial Group will provide the loan to the comapny.

ThaiBev billionaire Charoen Sirivadhanabhakdi has agreed to pay an amount worth $2.78 billion to Oversea-Chinese Banking Corporation and its partners for the shares in Fraser and Neave Ltd. It owns 40 percent of Asia Pacific Breweries, which is the maker of Tiger beer. The world’s third largest brewery, Heineken NV is also planning to control Singapore based APB to command a major emerging market asset.