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Kirin Holdings has confirmed it'll sell its entire 15 percent stake in Fraser & Neave to a consortium led by Overseas Union Enterprise, or OUE.
The Japanese brewer has decided to tender its stake for nearly $2 billion.
In turn, Kirin plans to buy back F&N's food and beverage operations for about $2.7 billion.
It remains to be seen if the plan will be successful, given a pending offer by a Thai billionaire.
Yesterday, OUE said it plans to buy shares in F&N for $9.08 a-piece.
This, trumping a 8-88 a share offer by a group linked to Thai Beverage.
