Allen & Gledhill and Baker & Mckenzie have acted on the acquisition of Temasek's entire stake in Fraser and Neave – a leading food and beverage company in Singapore and Malaysia – by Kirin, worth US$987m. The acquisition marks Kirin's first major investment in Singapore.

Kirin signed a share purchase agreement with Seletar Investments – a wholly-owned subsidiary of Temasek – last week, completing the acquisition of Temasek's entire stake of 205 million shares (approximately 14.7% total shares outstanding) in Fraser and Neave, on the 29 July 2010. Kirin announced it will fund the transaction through existing cash on hand and borrowings.

Ai Ai Wong, head of corporate & securities at Baker & Mckenzie.Wong & Leow, leads the team advising Kirin.

Advising Seletar are Allen & Gledhill partners Lim Mei and Lee Kee Yeng and associates Nicholas Chee and Jocelyn Chan.ALB

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