16 June, 2006

Japan: Kirin Brewery successfully concluded buyout bid for Kirin Beverage

Kirin Brewery Co. said June 16 it has successfully concluded a tender offer to make Kirin Beverage Corp. a wholly owned subsidiary.
The brewer said it has obtained a 97.07 percent stake in Kirin Beverage for 69.78 billion yen as a result of the 35-day tender offer completed June 15.

Before the buyout bid, Kirin Brewery held a 59.37 percent stake in the soft drink maker, which is currently listed on the First Section of the Tokyo Stock Exchange.

Kirin Beverage is expected to be delisted from the TSE around August.

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