Kirin Holdings has completed the sale of its 3.74% stake in Pernod Ricard for EUR378m (US$532m).

Kirin said today (26 June) it has sold the stake to Le Delos InvestIII, an investment vehicle controlled by Societe Paul Ricard.

The Japanese brewer said it would sell the stake after signing a joint venture agreement with Pernod rival Diageo in Japan.

Following news of the venture, Pernod also announced that it would end its distribution deal with Kirin in Japan.