Fraser and Neave confirms billion-dollar bid for Peroni, Grolsch beer brands

The brands are valued at US$3.2 billion.

Fraser and Neave has confirmed reports that it is bidding for European premium beer brands Peroni and Grolsch, which have been put up for sale by SABMiller.

A report by the Wall Street Journal valued the two brands at are estimated to be worth US$3.2 billion in December.

"The Company constantly evaluates and looks out for strategic opportunities to grow its business, and in this respect, it has expressed an interest to acquire the Peroni and Grolsch beer brands," F&N said in a statement to the SGX on Tuesday.

"However, the Company would like to emphasise that there is no certainty of any transaction materialising and it will make appropriate announcements if and when there are any material developments in this matter," the statement added.

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Penilaianmu: MagBe