| Latest Forum Topics / F & N Last:1.45 -- |
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F&N
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1419242
Member |
21-Aug-2012 19:33
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CIMB Research cut its target price for Singapore conglomerate Fraser and Neave to S$9.85 from S$10, and kept its 'outperform' rating, after taking into account a 15 percent discount to its property assets. By 0242 GMT, F& N shares were down 0.2 percent at S$8.38, but have gained 35 percent so far this year, compared to the Straits Times Index's 15.9 percent gain. F& N's board last week approved a sweetened $6.35 billion offer from Dutch brewer Heineken for Asia Pacific Breweries Ltd , the maker of Tiger Beer. If the sale of F& N's beer affiliate APB is successful, property will account for more than 80 percent of F& N, CIMB estimated, thus it is now applying a 15 percent discount to F& N's property restated net asset value. " This deal looks set to go through if Thai Bev and Kirin play ball. The potential for special dividends, reinvestment upside and more corporate actions are the expected catalysts for the stock," said CIMB in a note. |
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Chico84
Member |
21-Aug-2012 19:31
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Hmm..really?? I didnt know about this.
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lucky168
Veteran |
21-Aug-2012 17:38
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pse wake up! what talking u? Lim& Tan's report: To help ensure “success”, we expect F& N’s board to do better than what it has said so far about the $5.6 bln proceeds (which works out to $3.92 per F& N share ) from the sale of the 39.66% stake in APB.
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1234567
Senior |
21-Aug-2012 16:47
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Trading halt for both FNN and APB ! | ||
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merlin_magic
Senior |
21-Aug-2012 15:47
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Special dividend hasn't been officially announced yet....The share price will jump upon declaration...So buy while you can........ | ||
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TradeChancellor
Veteran |
21-Aug-2012 13:48
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Lets see if thai bev will increase its stake from 26% to 30% for a GO... | ||
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Chico84
Member |
21-Aug-2012 12:32
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Bought few lots at higher price too.. Now seems F&N no way can light up again. Pardon me if I'm wrong, just share my thoughts. | ||
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sengsk
Elite |
21-Aug-2012 12:10
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Precisely, Fully agreed. They just pull out F& B, This " sweet can" inside full of worthlessness sweetie.
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merlin_magic
Senior |
21-Aug-2012 11:44
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Fall is good so that I can take the opportunity to buy.... Swept a few lots at 8.40 earlier.... |
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Chico84
Member |
21-Aug-2012 10:59
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Can anyone share your thought why is F&N share price keep on falling?? | ||
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krisluke
Supreme |
21-Aug-2012 09:23
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F& N: Has agreed to accept offer by Heineken to acquire interest in APB at $53 per share. The 32.4% stake is valued at approx $4.43b with its 7.3% direct stake at $994m, a 6.0% increase over Heineken's prev offer. There is also a break fee of $55.9m payable to Heineken if co’s sh/h does not approve the transaction. Heineken will undertake not to manufacture or distribute soft drinks in Sg, Papua New Guinea, Cambodia and Vietnam if the transaction goes through and likewise F& N will not sell brewery products in these locations as well. Heineken’s prev offer was also only for co’s direct stake while the current revised offer includes co’s entire interest. The deal is given a timeline of 120 days from 18 Aug before it lapses. This is approx 35.1x P/E and $2 lower than Kindest’s partial offer (only for direct 7.3% stake) at $55. CIMB maintains outperform but decreases TP to $9.85 from $10.00 |
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paulynsaram
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19-Jul-2012 14:37
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> > Singapore's OCBC sells F& N, APB stakes for US$2.55 bln:-• OCBC, Singapore's second-biggest bank, and its insurance unit have agreed to sell their combined 18.1% stake in Fraser & Neave and an 8% stake in brewer Asia Pacific Breweries. • OCBC Group would make a post-tax gain of about S$1.15 billion from the deal.
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