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AMSTERDAM, The Netherlands -- Heineken NV gained full control of Asia Pacific Breweries (APB), maker of several popular beers -- including Tiger -- and operator of 30 breweries in 14 countries.
The deal became official today after shareholders of Fraser and Neave LTD (F&N) voted to sell its stake in APB for $6.3 billion.
Heineken already owned 56 percent of APB via an 81-year-old venture with F&N. According to Reuters, Heineken wanted to purchase the remaining stake it did not already own in APB to ward off another interested party linked to Thai billionaire Charoen Sirivadhanabhakdi.
Tiger is a popular beer in Thailand and is sold at many retail locations throughout the United States.
The Thai government, which could have blocked the Heineken transaction, voted in favor of the deal, the news outlet reported.