Yesterday, Forbes reported that Charoen Sirivadhanabhakti, the billionaire tycoon behind Thai Beverage, outbid Stephen Riady, a Singaporean property magnate, for control of the beverage and property company Fraser and Neave.
Charoen’s winning bid totaled a whopping USD11.2 billion, which is still seeking clearance from Fraser and Neave’s shareholders.
By acquiring Fraser and Neave, Charoen has given ThaiBev, which is now run by his son Thapana, further property exposure and an entrée into the Sinagporean soft drink market.
Among Thai beverage’s current offerings are Sangsom rum and Chang beer.
