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Shares of Fraser & Neave (F&N) (FRNM.SI) were 4.2% higher in early trade on Tuesday after Japan’s Kirin Holdings (2503.T) paid a premium to buy a 14.7% stake in the Singapore beverage and property conglomerate.
Around 0104 GMT, F&N shares were traded at $5.90, up from $5.67 on Monday but below the $6.50 a share paid by the Japanese beer maker.
Kirin said on Monday it will buy the F&N stake from Singapore state investor Temasek Holdings (TEM.UL) for $1.3 billion to accelerate its expansion in Asia.
