Monday, September 17, 2012

F&N

F&N: Accepts unsolicted offer of $261m for entire 56.05% stake in HK listed Frasers Property (China) Ltd. The price offered was at HK$0.43 per share a 82.4% prem over its VWAP of HK$0.236 per share. Completion of the sales is targeted to occur by end Sept 2012. Co intends to reinvest proceeds in China property.
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1 comment:

  1. Alan LuoSeptember 17, 2012 at 9:37 AM

    If TCC successfulyl block the sales of F&N holdings in ABP to Heineken, Valuation support for F&N share could be at risk.

    Beware of the downside risk in F&N and APB.

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