AUS: Lion Nathan plays down Kirin ambitions
Lion Nathan has moved to calm speculation that major stakeholder Kirin Brewery is planning to up its stake in the company.
Speaking to Reuters earlier today (9 March), Kirin's president, Kazuyasu Kato, said that the company was keen to increase its holding in Lion Nathan , but that no timing had been set. "Their business is attractive, and we would consider (raising the stake) when the time is right," Kato said.
"We do not intend to launch a hostile takeover," he added.
In a statement to the Australian Stock Exchange, also yesterday, Lion Nathan said that it had been told by Kirin that it had no immediate plans to raise its stake.
"Lion Nathan understands that Kirin is extremely pleased with its investment in Lion Nathan, and ... has confirmed that it currently has no intention of increasing its stake in Lion Nathan, which stands at 46% of issued share capital," the statement said.
Lion Nathan spent the best part of last year trying to acquire Australian family-owned brewer Coopers.
The bid looked to have been defeated when Coopers shareholders voted to strip Lion of its pre-emptive rights, effectively blocking it from buying any shares.
However, Lion refused to give up the ghost and left its offer on the table extending the deadline on the bid to 20 March.
After some less than successful diversification in recent years, Lion Nathan is focusing its attentions back on beer and winning the approval of analysts in the process. The company looks set to gain ...
Integrating spirits, wine and beer has proved problematic for major drinks groups over the years but expansionary moves by the two major Australian brewers, Foster's Group and Lion Nathan, suggest tha...
Lion Nathan has appointed a new non-executive director....
Coopers Brewery is fighting the takeover attempt from fellow Australian brewer Lion Nathan....
Lion Nathan today announced that it intends to make an off-market offer for Coopers Brewery Ltd (Coopers). The offer of A$260 per share in cash values Coopers at A$352m....
Lion Nathan has received further assurances that it is not about to be taken over....
Lion Nathan has played down speculation that it may be the subject of a takeover....
Lion Nathan has said it is on target to reach its full-year net profit after tax forecast for 2005 of between A$230m and A$235m before one-off charges....
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