date:Jan 31, 2013
Singapore-based drinks and property group Fraser Neave (FN) has announced that all of its board members, including chairman Lee Hsien Yang, will resign next week, which will allow its largest shareholder Charoen Sirivadhanabhakdi to restructure the board.
FN's nine board members accepted the revised offer of $11.2bn or S$9.55 ($7.74) per share from Thai tycoon Sirivadhanabhakdi, who holds approximately 45% stake, for the remaining shares.
Recently, Sirivadhanabhakdi, who owns Thailand-based T