An investigation by the Competition Commission of Singapore (CCS) into a potentially anti-competitive restriction on soft drinks production has been resolved by voluntary agreement. The contentious matter dated back to November last year when Heineken International completed the purchase of the entire interest in Asia Pacific Breweries, a Singapore-based brewing group which spreads widely throughout Asia and as far as New Zealand, of assets held by the Malaysia/Singapore soft drinks producer Fraser & Neave. This buy-out also covered the assets of Asia Pacific Investment in which F&N was a shareholder.
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