Kirin Holdings, one of Japan's largest brewers, has entered into an agreement with San Miguel Corporation SMC to purchase 43.2% of its domestic beer business, San Miguel Brewery SMB. This is the second time in less than a month that a Japanese company is taking advantage of opportunities overseas to diversify away from its core domestic brewery business.
The total value of the stake is Ps58.93 billion $1.2 billion, comprising approximately 6.6 billion San Miguel Brewery shares at Ps8.841 each. The deal is expected to close by the end of May. Kirin will also offer to buy additional San Miguel Brewery shares at the same price from other shareholders, but intends to...
¬ Haymarket Media Limited. All rights reserved.
