Kirin Holdings rounds-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.