Fraser & Neave expressed interest to buy Peroni, Grolsch Beers

Fraser & Neave expressed interest to buy Peroni, Grolsch BeersSingapore-based Fraser and Neave Ltd. is interested in buying SABMiller Plcs Peroni and Grolsch brands in Europe, adding to a list of global companies that are bidding for the European beer names.

The company constantly evaluates and looks 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, F&N said in a statement Tuesday. Theres no certainty of any transaction materializing, said the company controlled by Thai billionaire Charoen Sirivadhanabhakdi.

SABMiller, which is being taken over by Anheuser-Busch InBev NV, is divesting assets in Europe to overcome potential antitrust hurdles. Other companies circling the brands include Japanese brewer Asahi Group Holdings Ltd., Spanish beermaker Mahou-San Miguel Group and Cinven, as well as buyout firms such as KKR & Co., according to people familiar with the matter last month.

The two beer brands may be worth about 1.2 billion euros ($1.3 billion), according to analysts at Jyske Bank. Peroni, an Italian lager, may be worth about 938 million euros while Dutch beer Grolsch may fetch about 268 million euros, according to the brokerage.

Reuters reportedlate Monday that F&N had bid without conditions"" for the SABMiller brands, citing Thai Beverage Chief Executive Officer Thapana Sirivadhanabhakdi. Thailands richest man Charoen is ThaiBevs chairman.

Source: Bloomberg
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