Australian brewer Lion Nathan has said that it expects to become a wholly-owned subsidiary of Japan's Kirin Holdings within the next week.

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).