Fraser & Neave (F & N)

FNN is not my core. I just hold on to odd lots and certificate.

Since the listing of FCL, the main focus is how to extract value from hard assets and keep sustaining the value @ FNN.

If that helps

(03-08-2015, 11:50 AM)yeh Wrote: hi GG
are you still in this counter?

F&N won, the result is US$560 million, rather than US$246 million. Good for the company...

http://infopub.sgx.com/FileOpen/FN_MBL_-...eID=363747

(not vested)

(03-08-2015, 10:30 AM)CityFarmer Wrote: Latest update

F&N says Singapore High Court dismissed application for interim injunction by Myanma Economic Holdings

SINGAPORE (Aug 3): Fraser and Neave ( Financial Dashboard) announced that the Singapore Hight Court has dismissed the application by Myanma Economic Holdings Ltd (MEHL) for an interim injunction requiring F&N to take all steps necessary to transfer the company’s stake in Myanmar Brewery to MEHL upon it paying the sum of F&N 500 billion Myanmar kyat at current exchange rates. That fee is equal to US$405 million at today's exchange rates.
...
http://www.theedgemarkets.com/sg/article...a-economic

Judgement doesn't matter... will they pay that matters...

(06-08-2015, 09:14 AM)CityFarmer Wrote: F&N won, the result is US$560 million, rather than US$246 million. Good for the company...

http://infopub.sgx.com/FileOpen/FN_MBL_-...eID=363747

(not vested)

(03-08-2015, 10:30 AM)CityFarmer Wrote: Latest update

F&N says Singapore High Court dismissed application for interim injunction by Myanma Economic Holdings

SINGAPORE (Aug 3): Fraser and Neave ( Financial Dashboard) announced that the Singapore Hight Court has dismissed the application by Myanma Economic Holdings Ltd (MEHL) for an interim injunction requiring F&N to take all steps necessary to transfer the company’s stake in Myanmar Brewery to MEHL upon it paying the sum of F&N 500 billion Myanmar kyat at current exchange rates. That fee is equal to US$405 million at today's exchange rates.
...
http://www.theedgemarkets.com/sg/article...a-economic

The result, isn't due to court judgement, but agreed and confirmed by MEHL

(06-08-2015, 09:44 AM)greengiraffe Wrote: Judgement doesn't matter... will they pay that matters...

(06-08-2015, 09:14 AM)CityFarmer Wrote: F&N won, the result is US$560 million, rather than US$246 million. Good for the company...

http://infopub.sgx.com/FileOpen/FN_MBL_-...eID=363747

(not vested)

(03-08-2015, 10:30 AM)CityFarmer Wrote: Latest update

F&N says Singapore High Court dismissed application for interim injunction by Myanma Economic Holdings

SINGAPORE (Aug 3): Fraser and Neave ( Financial Dashboard) announced that the Singapore Hight Court has dismissed the application by Myanma Economic Holdings Ltd (MEHL) for an interim injunction requiring F&N to take all steps necessary to transfer the company’s stake in Myanmar Brewery to MEHL upon it paying the sum of F&N 500 billion Myanmar kyat at current exchange rates. That fee is equal to US$405 million at today's exchange rates.
...
http://www.theedgemarkets.com/sg/article...a-economic

Huh so $ in... no more growth from Myanmar... oso jelek

(06-08-2015, 10:41 AM)CityFarmer Wrote: The result, isn't due to court judgement, but agreed and confirmed by MEHL

(06-08-2015, 09:44 AM)greengiraffe Wrote: Judgement doesn't matter... will they pay that matters...

(06-08-2015, 09:14 AM)CityFarmer Wrote: F&N won, the result is US$560 million, rather than US$246 million. Good for the company...

http://infopub.sgx.com/FileOpen/FN_MBL_-...eID=363747

(not vested)

(03-08-2015, 10:30 AM)CityFarmer Wrote: Latest update

F&N says Singapore High Court dismissed application for interim injunction by Myanma Economic Holdings

SINGAPORE (Aug 3): Fraser and Neave ( Financial Dashboard) announced that the Singapore Hight Court has dismissed the application by Myanma Economic Holdings Ltd (MEHL) for an interim injunction requiring F&N to take all steps necessary to transfer the company’s stake in Myanmar Brewery to MEHL upon it paying the sum of F&N 500 billion Myanmar kyat at current exchange rates. That fee is equal to US$405 million at today's exchange rates.
...
http://www.theedgemarkets.com/sg/article...a-economic

The Myanmar has chosen Kirin (Japan) over F&N (Thai)...

Japan's Kirin to buy F&N's stake in Myanmar Brewery for US$560 million: Reuters

SINGAPORE (Aug 19): Japan's Kirin Holdings is set to buy Fraser and Neave's 55% stake in Myanmar's biggest brewer, Myanmar Brewery, for US$560 million ($786 million), a source familiar with the deal said on Wednesday.

An announcement on the deal could come as early as Wednesday, said the source, who declined to be identified due to the sensitivity of the matter.
...
http://www.theedgemarkets.com/sg/article...on-reuters

No special dividend on the sale, which isn't planned...

F&N eyeing acquisitions post-Myanmar Brewery Limited sale, says Daiwa

SINGAPORE (Aug 21): F&N has ruled out any special dividend from the sale of its 55% stake in Myanmar Brewery Limited but has earmarked the proceeds are earmarked for acquisitions, with Indonesia and Vietnam as two countries of interest.
...
http://www.theedgemarkets.com/sg/article...says-daiwa

broker's report - http://www.theedgemarkets.com/sg/article...e-says-dbs
F&N is ‘definitely an interested party’ in raising Vinamilk stake, says DBS.

SINGAPORE (Nov 4): DBS Vickers says Fraser and Neave (FNN) ( Valuation: 0.80, Fundamental: 1.55) is “definitely an interested party” in increasing its stake in Vinamilk.

According to Bloomberg, quoting Saigon Times, FNN is offering US$4 billion ($5.6 billion) for Vietnam’s State Capital Investment Corporation’s (SCIC) 45.1% stake in Vinamilk.
But FNN has issued an announcement indicating that it “has not submitted any offer letter to Vinamilk or SICC with regards to any offer to purchase SCIC’s stake in Vinamilk”.

The quoted offer price is about 40% premium to Vinamilk’s current traded price and values it at a market cap of US$8.9 billion.
This works out to a PE of 28x/25x on FY15F/16F, based on Bloomberg consensus’ estimates.

Fraser and Neave has expressed an interest to acquire the Peroni and Grolsch beer brands. However, the Company would like to emphasise that there is no certainty of any transaction materialising.

Peroni Brewery is a brewing company, founded in Vigevano in Lombardy, Italy in 1846. It has been based in Rome since 1864 and is now owned by SABMiller brewing group.

Grolsch Brewery, known simply as Grolsch, is a Dutch brewery founded in 1615 by Willem Neerfeldt in Groenlo. In 1895 the de Groen family bought the brewery. They had started their own brewery in Cuijk the Netherlands in the early 19th century. It is now also owned by SABMiller brewing group.

An overdue restructuring?

(not vested)

'High probability' of ThaiBev buying out F&N: Religare

SINGAPORE (May 24): Soft-drinks maker Fraser & Neave will likely be fully integrated under Thai Beverage in the coming quarters as the parent of both companies, TCC, seeks to restructure its holdings, says Religare analyst Nirgunan Tirchuchelvam.

“There is a high probability of of TCC injecting F&N’s F&B business into ThaiBev,” Tiruchelvam writes in a May 23 note.
...
http://www.theedgemarkets.com/sg/article...n-religare