Heineken, which has its Irish headquarters in Cork, said full-year profit will be stagnant as demand in western Europe stumbles, highlighting the Dutch brewer’s need to win the battle for full control of Asia Pacific Breweries Ltd (APB).

Asia Pacific Breweries Ltd surged to a record in Singapore trading yesterday after Heineken, the world’s third-biggest brewer, offered as much as $6bn (€4.75bn) for full control of the maker of Tiger beer.