Australia & Japan: Lion Nathan says Kirin not moving to boost stake

Australian brewer Lion Nathan Ltd. said its major stakeholder Kirin Brewery Co. had no current intention of increasing its shareholding in the company, in response to comments from the Japanese brewer's president to Reuters, Reuters communicated on March 9.

Lion Nathan shares jumped nearly 5 percent after Kirin President Kazuyasu Kato said in an interview earlier on Thursday that the company was waiting for a chance to increase its stake in Lion Nathan, but no timing for such a move had been set.

"Their business is attractive, and we would consider (raising the stake) when the time is right," Kato said. He added: "We do not intend to launch a hostile takeover."

Lion Nathan said Kirin was "extremely pleased" with its investment but had told the Australian brewer that there were no immediate plans to raise its stake.

"Kirin has confirmed that it currently has no intention of increasing its stake in Lion Nathan, which stands at 46 percent of issued share capital," the company said in a statement to the Australian Stock Exchange.

Lion Nathan shares closed up 4.7 percent at A$8.64 in a wider Australian market up 0.4 percent. ($1=A$1.37)