JAPAN: Kirin, Suntory file merger deal with competition watchdog - report
The companies have filed the deal with the Fair Trade Commission, according to a Dow Jones report today (15 September).
Neither company could be immediately reached to confirm the move.
In July, Kirin and Suntory confirmed that they were in talks to merge. A deal would give them more than a 50% of Japan's beer market, enabling them to consolidate resources in the country's stagnant beer sector in order to concentrate on overseas expansion.
"The FTC is more than likely to approve such a deal as the Government has already voiced its support," a JP Morgan Japan analyst told just-drinks in July. "Japan wants a large, strong and robust company like this to compete effectively in the global marketplace."
Coca-Cola France president Christian Polge has been elected head of French soft drinks trade body, the Syndicat National des Boissons Rafraîchissantes (SNBR)....
Kirin Holdings has blamed unfavourable currency rates and a weakened Japanese economy for a fall in sales and profits in 2009....
Japanese drinks group Kirin Holdings has appointed a new president and CEO as it looks to push on with plans to drive earnings, despite a breakdown in merger talks with Suntory....
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