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OCBC, unit get offer for their stake in Fraser and Neave
July 16, 2012 / 1:28 PM / 5 years ago

OCBC, unit get offer for their stake in Fraser and Neave

SINGAPORE, July 16 (Reuters) - Singapore’s Oversea-Chinese Banking Corp (OCBC) and its insurance unit Great Eastern have received an offer for their combined 18.2 percent stake in Fraser and Neave, a Singapore-listed beverages-to-property firm.

The offer, from an unnamed group, was also for a 7.92 percent stake in Asia Pacific Breweries Ltd owned by OCBC and its unit, the Singapore lender said in a statement.

Fraser and Neave has a market capitalisation of $8.7 billion, according to Thomson Reuters data.

The offer comes two years after Kirin Holdings Co, Japan’s largest brewer, paid $984 million for Temasek Holdings Pte’s 14.7 percent holding in Fraser and Neave. (Reporting by Saeed Azhar; Editing by David Holmes)

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