JAPAN: Kirin eyes further San Miguel beer assets - report
Kirin CEO Kazuyasu Kato told the Dow Jones newswire yesterday (11 March) that a move for San Miguel International was a possible next step for the Japanese brewer.
A Kirin spokesperson could not be reached for comment this afternoon.
Philippines-based San Miguel Corp has brewing operations across the Asia-Pacific region, including in China, Vietnam, and Indonesia.
Kirin, which has already agreed a deal to buy 43% of San Miguel Brewery (SMB) for PHP59bn (US$1.2bn), said late last week that it will launch a tender offer to acquire all remaining shares owned by SMB parent firm, San Miguel Corp.
If successful, Kirin's stake in SMB will rise to 49%. The Japanese brewer said that it planned to offer PHP7.8bn ($161m) for the extra shares and hopes to complete both deals by the end of May.
A Kirin spokesperson told just-drinks last month that the firm plans to source 30% of its beer sales from outside of Japan by 2015. It estimates that 24% of sales will come from other countries in 2009.
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