Thai Beverage exits real estate, transferring 28.8% stake in Frasers Property to TCC Assets via share swap, increasing F&N ownership to nearly 70%.
Thai Beverage (ThaiBev), a major beverage company, plans to exit the real estate industry by transferring its 28.8% stake in Singapore-based Frasers Property to TCC Assets through a share swap agreement. This move will make ThaiBev a pure-play beverages and food firm and increase its ownership in F&N from around 28% to nearly 70% upon completion of the deal. The transaction values F&N at around $3.9 billion and Frasers Property at about $7.4 billion.
July 18, 2024
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