JAPAN/SINGAPORE: Kirin to sell Fraser & Neave stake

By | 1 February 2013

Kirin is giving up its stake in F&N

Kirin is giving up its stake in F&N

Kirin Holdings has said it will sell its 15% stake in Fraser & Neave to TCC Assets for around SGD2bn (US$1.6bn). 

In a statement today (1 February), the Tokyo-headquartered group confirmed it will offload its shares to ThaiBev-controlled TCC before the offer deadline of 18 February. TCC this week took majority control of F&N and is expected to take full ownership of the Singapore conglomerate. 

Kirin said the reason for its move was because “it would be difficult to implement an integrated beverages strategy in South-East Asia” in light of the TCC acquisition. 

The Japanese group had previously said it would buy F&N's food and beverage business for SGD2.7bn, if Singapore property group Overseas Union Enterprise (OUE) had captured the conglomerate.

However, OUE withdrew its offer last week after TCC raised its bid to SGD9.55 per share. Kirin said today that all its previous agreements with OUE have been terminated since it withdrew from the bidding process. 

Expert analysis

Carbonated Soft Drinks in Asia-Pacific

Carbonated Soft Drinks in Asia-Pacific industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Asia-Pacific carbonated soft drinks market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Sectors: Mergers & acquisitions, Soft drinks

Companies: Kirin

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