September 13, 2012 / 11:12 AM / 5 years ago

Singapore's F&N requests trading halt after TCC offer

SINGAPORE (Reuters) - Singapore’s Fraser and Neave Ltd (FRNM.SI) requested a trading halt on Thursday after a group linked to Thai billionaire Charoen Sirivadhanabhakdi made a $7.2 billion cash offer to take over the drinks-and-property conglomerate.

The offer came after Thai Beverage PCL (TBEV.SI) and TCC Assets, the vehicle linked to the billionaire, increased their combined stake in F&N to 30.36 percent, according to a stock filing to the Singapore Exchange.

Under Singapore law, a bidder has to make a mandatory offer for a company if it buys a 30 percent stake.

Reporting by Eveline Danubrata; Editing by John Mair

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