FNN / APB

FNN / APB: update. Heineken said yday that it will buy the 8.6% stake (22.2m sh) that Kindest Place has in APB. Heineken will pay $53/sh, the same amount as its current offer for all outstanding APB shares it doesn't already own. Heineken already owns 13.9% in APB directly and 32.4% indirectly via a holdco together with its JV partner FNN. FNN owns 7.3% directly in APB and 32.4% indirectly. The deal follows an agreement announced Tuesday under which F&N's shareholder Thai Bev, to which Kindest Place is connected, will support Heineken's offer for APB and will vote in favor of it at F&N's upcoming sh/h meeting of F&N on Sep 28.