Singapore conglomerate bids for ownership of Peroni and Grolsch

Singapore’s Fraser and Neave has confirmed that it hopes to buy into the European beer market through the purchase of Peroni and Grolsch from Anheuser-Busch InBev

The chief executive of F&N’s parent company, Thai Beverage, said the bid was non-binding and an attempt by the group to expand into premium brands with strong market positions.

According to Thai Beverage chief executive Thapana Sirivadhanabhakdi, the company was among several bidders going through to the final stages of an auction to buy the two brands in a deal that the news wire speculates could be worth up to US$3.24bn.

“We constantly evaluate and look out for strategic opportunities to grow its business, and in this respect, it has expressed an interest to acquire the Peroni and Grolsch beer brands,” Thapana said.

“However, the company would like to emphasise that there is no certainty of any transaction materialising and it will make appropriate announcements if and where there are any material developments in this matter.”

In a bid to gain regulatory approval for a US$100 billion-plus takeover of SABMiller that made headlines last year, AB InBev is looking to shed some of its brands, including Peroni and Grolsch.