LONDON (ShareCast) - Dutch brewer Heineken is closer to acquiring Fraser & Neave's (F&N) stake of joint venture Asia Pacific Breweries (APB) after winning the support of a key backer of F&N.

Thai billionaire Charoen Sirivadhanabhakdi, a major shareholder in F&N, said that he will support the offer. Heineken has offered $4.6bn dollars for a 40% stake in Asia Pacific Breweries.

Charoen has made his own offer for F&N's other assets, including its non-alcoholic beverage business and property units. Charoen controls ThaiBev, Thailand's largest alcohol company, which is looking to expand in the Asian region. One of Charoen 's companies has a property arm, prompting speculation that he may break up F&N. Heineken has agreed not to make a competing offer for F&N.

"It could be a win-win for everyone involved. Heineken gets its prized asset of APB, the Thais get a good price which will help fund their takeover of F&N," said IG Markets strategist Justin Harper.

Shares of Heineken have jumped more than 5% on the news of Charoen's backing of its offer.

MG

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