The proposed share swap will be executed at a ratio of approximately 1.88 FPL shares for each F&N share. This ratio was determined based on a negotiated price of $1.89 per FPL share and $3.55 per F&N share.
Thai Beverage Public Company (ThaiBev), through its indirect wholly-owned subsidiary InterBev Investment (IBIL), has proposed a share swap with TCC Assets. The proposed share swap will involve no cash outlay from IBIL or ThaiBev.
ThaiBev will transfer to TCC Assets all of its 28.78% shareholding in Frasers Property (SGX:TQ5
) (FPL). TCC Assets will transfer its 41.30% shareholding in Fraser and Neave (F&N) to ThaiBev. Upon completion, ThaiBev will hold 69.61% of F&N compared to 28.31% previously. TCC Assets will own 86.89% of FPL (up from 58.10%).
