kirin-moves-in-on-san-miguel-brewery

Kirin moves in on San Miguel Brewery

Japan's Kirin is in exclusive discussions to buy San Miguel's beer business, which includes the Philippines' top four brands, in a deal worth an estimated $1.25 billion.
January 19, 2009
JapanÆs Kirin Holdings and San Miguel Corporation yesterday announced that they have signed a memorandum of understanding which includes an exclusivity clause for Kirin to acquire a further 43.25% stake in San Miguel Brewery. No financial details were disclosed, but based on San Miguel BreweryÆs last traded share price, the stake is estimated to be valued upwards of $1.25 billion.

Kirin and San Miguel Corporation have had a strategic and financial partnership since 2001. In December 2001, Kirin agreed to acquire 15% of San MiguelÆs equity by subscribing to newly issued shares and negotiated the right to be involved in San MiguelÆs management. KirinÆs stated intention was to grow revenues from its beer business outside...
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