Thai Beverage Says Conditional Share Swap Agreement Between Interbev Investment & TCC Assets
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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.
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