Indonesia’s Riady family pulled out of an auction for Singaporean conglomerate Fraser & Neave, leaving Thai billionaire Charoen Sirivadhanabhakdi as the sole bidder for control of the 130-year-old company,
the
Wall Street Journal
reported.
Charoen controls 40.6% of F&N, which has interests in property, publishing and food and beverages, the article said. He is offering 8.2 billion Singapore dollars (US$6.68 billion) for the part of the company he doesn’t already own.
Charoen’s companies make Chang beer and also have interest in property and soft drinks; the Riady family controls the Lippo Group, an Indonesian conglomerate with interests in real estate, publishing and banking, the
Journal
article said. (Source:
Wall Street Journal,
Jan. 22, 2013.)
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