Kirin Holdings has made an informal approach to Brazil's third largest brewer Petropolis with a view to acquiring it, according to local reports.      

However, Petropolis owner Walter Faria has denied the company is for sale, the report suggests. Petropolis is the third largest brewer in Brazil by volume with 10% share, behind Kirin-owned Schincariol and Anheuser-Busch InBev's AmBev division.

Following Kirin's acquisition of Schincariol last year, Petropolis represents the nation's largest independent player. The company has 3,600 employees and four breweries.

However, the report suggests Faria is looking for more than the BRL6.5bn (US$3.21bn) Kirin paid for Schincariol.

In Febraury, rumours circulated that Heineken was looking to acquire Petropolis, but the Dutch brewer refused to comment on the speculation.