AUSTRALIA: Lion Nathan, Kirin Holdings finalising takeover
Kirin, which already owns a 46% stake in Lion Nathan, has agreed to buy all outstanding shares in the brewer for A$3.3bn (US$2.36bn), or A$11.5 per share.
Lion Nathan, which brews XXXX lager and Tooheys, said today (5 May) that it is still in the process of agreeing terms with Kirin, but added: "Lion Nathan currently expects that an implementation agreement will be agreed and executed over the course of the next week."
Last month, Lion Nathan raised its full-year profits guidance after announcing that net sales for the six months to the end of March rose by 5.5% to A$1.18bn (US$847m).
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Kirin Holdings has launched phase two of its plan to reach JPY2.5tn (US$27bn) in annual net sales and JPY250bn in operating profits by 2015....
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