The Dutch brewer has offered to buy Fraser & Neave's (F&N) stake and other ordinary shares that it does not already own, as Thai billionaire Charoen Sirivadhanabhakdi competes for control of APB.
Heineken will make a mandatory general offer for all shares of Singapore-based APB in does not own at a price of S$50 a share.
The offer comes two days after companies linked to Mr Charoen bought F&N and APB shares from Singapore's bank OCBC for S$3.2 billion.
That has put pressure on Heineken to protect its investment in APB, with which it makes the popular Tiger beer.
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