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BRIEF-Fraser & Neave says independent financial advisor found the TCC Assets offer "not compelling but fair"

Oct 10 (Reuters) - Fraser and Neave, Ltd :

* Says independent financial advisor found the F&N offer of S$8.88 per share

"not compelling, though fair"

* Says F&N directors who hold shares intend not to accept f&n offer by tcc assets unless F&N offer turns unconditional

* Says TCC assets offer of S$8.88,at low end of range of estimated sum-of-parts

valuation of between S$8.30 & S$11.22

* Further company coverage

((Bangalore Newsroom; +1 646 223 8780))