Dutch company, Heineken, which launched an acquisition bud valued at S$5.1bn in July, has indicated that it might increase the bud value to acquire a majority stake in the company.

APB, which is based in Singapore, is the maker of popular Tiger brand of beer. Heineken already owns a stake of about 42 per cent in APB and is aiming to acquire full control of the company. Joint-venture partner Fraser & Neave now owns 39.7 per cent in the company.

The acquisition plans of Heineken are being complicated by ThaiBev, which owns a 25 per cent in Fraser & Neave. ThaiBev is owned by the son of Thai billionaire Charoen Sirivadhanabhakdi and another company belonging to him, Kindest Place Group is offering S$55 per share for a stake in APB from Fraser & Neave.

Heineken is holding discussions with F&N to increase the bud price to about S$53 per share. The trading of the shares of both APB and Fraser & Neave was stopped in Singapore after the two companies sad they are waiting for the release of an announcement.

APB also brews Tiger, Bintang and Anchor and runs breweries in countries including Malaysia, Thailand and Cambodia.