Kirin Holdings has recieved clearance from New Zealand's Overseas Investment Office for its deal to buy up all remaining shares in Lion Nathan.

Australia-based brewer Lion Nathan announced that it has receieved the green light for the deal in New Zealand, where it owns Steinlager beer.

The decision, which follows clearance in Australia, means that Kirin's A$3.3bn (US$2.6bn) takeover of Lion Nathan remains on-track to be completed before the end of 2009.

Lion Nathan said in trading update today that it expects to meet net profits guidance of A$305m-$315m for its full-year.