JAPAN: Kirin Holdings plans brewery HQ sale - report
Kirin Holdings has seen its debt levels rise
Kirin Holdings is to sell the Tokyo head office of its brewing unit for up to JPY20bn (US$228m) to help clear acquisition debts, according to a local report.
Kirin, which also plans to sell its group headquarters for JPY10bn, will relocate Kirin Brewery Co to a rented building in Tokyo's Nakano Ward, the Yomiuri Shimbun reported today (7 January). The move follow a series of overseas acquisitions that has seen Kirin's debts soar from JPY302.7bn in 2006 to JPY1.14tn in 2011, the newspaper said.
Kirin is in line to acquire the food & beverage business of Singapore's Fraser & Neave for SGD2.7bn if a wider bid by Overseas Union Enterprise for the conglomerate succeeds.
- Whatever happened to binge Britain? - comment
- The dangers of squaring up to your competitor
- The US beer market - A level playing field for all
- Remy Cointreau's Q2 and H1 - preview
- Constellation and Ballast Point's "sticker shock"
- Sidney Frank CEO to head Clooney's import co
- Diageo sells off United Spirits' Bouvet Ladubay
- Irish whiskey brands could fail without bulk
- Diageo Australia appoints commercial head
- Captain Morgan distillation trial queried by USVI
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Wine Market to 2019 - Market Size, Development, and Forecasts
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market: News and Events September 2015