AUS: Court clears Kirin to swallow Lion Nathan

By just-drinks.com editorial team | 7 October 2009

Lion Nathan has ceased to exist as a separate entity after Australia's Federal Court approved the takeover of the brewer by Japan's Kirin Holdings.

A Federal Court judge today (7 October) approved Kirin's bid to acquire all shares in Lion Nathan that it does not already own, for a total A$3.3bn (US$2.6bn).

The ruling means Kirin has cleared the last hurdle in its attempt to gain full control of Australia's largest brewer, owner of the XXXX and Tooheys brands.

Lion Nathan said that it would cease trading on the Australian and New Zealand stock exchanges at the close of business today.

The takeover will be officially closed on 21 October, Lion Nathan said, with non-Kirin shareholders set to receive A$11.5 in cash per share.

Lion Nathan shareholders approved the deal last month.

Sectors: Beer & cider, Soft drinks

Companies: Lion Nathan, Kirin