ThaiBev to expand F&B business through F&N acquisition via share swap

ThaiBev has sold its stake in real estate to focus on its F&B business.

ThaiBev completed the proposed share swap between its unit, InterBev Investment Limited (IBIL), and TCC Assets Limited (TCCAL) on 20 September.

The share swap involved IBIL transferring all of its 28.78% stake or 1,130,041,272 ordinary shares in Frasers Property Limited (FPL) to TCCAL, and TCCAL transferring its 41.30% stake or 601,627,606 ordinary shares in Fraser and Neave, Limited (F&N) to IBIL.

Following the completion of the proposed share swap, ThaiBev, through IBIL, has become the holding company of F&N and its subsidiaries.

In addition, ThaiBev and IBIL have ceased to hold any interest in FPL and FPL is no longer an associated company of ThaiBev.