SINGAPORE, Oct 10 (Reuters) - Overseas Union Enterprise Ltd
made the S$1.4 billion ($1.14 billion) bid for Fraser and Neave Ltd's hospitality and serviced residence unit that was rebuffed by the Singapore conglomerate, a source with knowledge of the matter said.
F&N, which also has soft drinks, dairy and publishing segments, said the business is an integral part of its property arm and it is still considering a $7.2 billion offer by Thai billionaire Charoen Sirivadhanabhakdi for the whole of the company.
As a result, F&N will not respond to the offer for the hospitality and serviced residence business, the company said in a stock filing without identifying the bidder.
F&N's board is due to make its recommendation to shareholders on Thursday on whether to accept or reject the Thai offer.
Overseas Union Enterprise, a Singapore hotel and property firm controlled by Indonesia's Lippo Group, could not immediately be reached for comment.
($1 = 1.2305 Singapore dollars)
(Reporting by Eveline Danubrata)
Keywords: FRASERANDNEAVE OUE/