South Korea: South Korea's biggest food and feed maker, said on March 29 it has broken off talks with Kirin Brewery Ltd., one of Japan's beer makers, to jointly bid for Jinro Ltd., according to Asia Pulse. "We terminated talks with Kirin for a strategic partnership to bid for Jinro," CJ said in a regulatory filing. "We will push to buy Jinro with domestic investors."
So far, some 12 bidders have expressed their interest in purchasing Jinro, which controls more than half of South Korea's traditional liquor "soju" market. Bidders will be required to submit their applications by March 30.
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