Thai Beverage Public Company (SGX:Y92) completed a proposed share swap with TCC Assets Limited, according to a Sunday filing on the Singapore Exchange.
The transaction involved the transfer of 601.6 million shares in Fraser and Neave (SGX:F99), representing nearly 41.3% of Fraser and Neave's issued shares, from TCC Assets to InterBev Investment Limited, a wholly-owned subsidiary of Thai Beverage.
In return, InterBev Investment Limited transferred 1.13 billion ordinary shares in Frasers Property Limited (SGX:TQ5), equating to about 28.78% of Frasers Property's issued shares, back to TCC Assets.
As a result, Thai Beverage, through InterBev Investment Limited, has become the holding company of Fraser and Neave and its subsidiaries, while InterBev Investment Limited and Thai Beverage no longer hold any interest in Frasers Property, which is no longer an associated company.
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