JAPAN - Kirin Holdings inches up Fraser & Neave stake
Kirin Holdings rounds-up Fraser & Neave stake
Japan's Kirin Holdings has upped its stake in Fraser & Neave.
Kirin has raised its stake in Fraser & Neave (F&N) by 0.3% to 15%, the Singapore-based food and drink group said yesterday (7 February). Kirin bought F&N shares on the open market in a series of transactions on 2 February, it said. Financial details were not disclosed.
The Japanese brewer bought its initial 14.7% stake in F&N for JPY84.6bn (US$1bn) in July last year, as part of a series of investments designed to reduce Kirin's reliance on the sluggish Japanese drinks market. Last month, Kirin announced a tie-up with China Resources Enterprise.
F&N is a strong player in food and soft drinks across the Asia Pacific region. It also operates a brewing joint-venture with Heineken, Asia Pacific Breweries.
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