Heineken-APB divests 21% stake in Kingway Brewery

The issued share capital is worth RMB1.08 billion or S$205 million.

According to DBS, the key condition is that GDH Limited, the controlling shareholder of Kingway Brewery, will not exercise its pre-emption rights to acquire the shares.

Heineken-APB is Fraser & Neave's subsidiary and an associate company of Asia Pacific Breweries.

F&N will recognise a disposal gain of S$38.4 million and HAPBC will recognise a gain of S$76 million.

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