AUS: Lion Nathan, Kirin Holdings deal approved

By just-drinks.com editorial team | 19 June 2009

Kirin Holdings has received the green light from Australia's Foreign Investment Review Board (FIRB) for its acquisition of all remaining shares in brewer Lion Nathan.

The FIRB has "no objection" to Kirin buying up all shares in Lion Nathan that it does not already own, Lion Nathan said today (19 June).

Japan-based Kirin, already a stakeholder in Lion Nathan and which is looking to expand across Southeast Asia and Oceania, said in April that it had agreed to pay A$11.50 per share for the 54% of outstanding shares in Lion Nathan, representing a total price of A$3.3bn (US$2.36bn).

Both brewers hope to have the deal completed by October this year.

Sectors: Beer & cider

Companies: Lion Nathan, Kirin