Thai billionaire Charoen Sirivadhanabhakdi, has made an offer of $7.2 billion for Singapore based consumer group Fraser and Neave (F&N).

The move to buy out the other shareholders could end Heineken’s bid to buy a 40 percent stake in F&N’s beer industry.

Charoen already controls a 30 percent stake of the business and the Heineken deal could only now succeeded if the company was able to persuade shareholders to stick by the bid.

A successful buy-out of shareholders by Charoen may see a renegotiated deal with Heineken in the future.