JAPAN: Kirin Holdings reveals acquisition war chest
Kirin Holdings has said that it has a war chest of JPY300bn (US$3bn) for mergers and acquisitions.
"We have announced that the investment amount for the next four years in our mind is JPY300bn," a Kirin spokeswoman told just-drinks today (13 March).
She confirmed comments made by Kirin president Kazuyasu Kato in an interview with the Dow Jones newswire this week.
Kato said Kirin is committed to M&As and will consider "deals with overseas alcoholic drinks makers as well as soft drink firms at home and abroad".
In February, Kirin said that it had agreed to acquire 43% of San Miguel Brewery for PHP59bn (US$1.2bn). It said in March that it intends to raise this to 49% for an extra PHP7.8bn ($161m).
Separately, the Kirin spokesperson told just-drinks that the group would spin-off up to JPY100bn (US$1bn) in land, stock and other assets, following its acquisition of Dairy Farmers in Australia last year.
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