10 March, 2006

Australia: Australia's S&P/ASX 200 Index declines, paced by Lion Nathan

Lion Nathan Ltd. fell after scotching a report that its biggest shareholder Kirin Brewery Co. plans to increase its stake, Bloomberg posted on March 10. Australia's S&P/ASX 200 Index dropped.

Lion Nathan, Australia's second-largest brewer, slid 44 cents, or 5.1 percent, to A$8.20. The company said Kirin Brewery doesn't plan to increase its 46 percent stake in the company. Reuters reported yesterday that Tokyo-based Kirin, Japan's biggest beverage company, wanted to increase its holding.

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