AUS: Lion Nathan shareholders back Kirin takeover
Kirin, which already owns 46% of Lion Nathan, is one step closer to taking full control of the drinks group after non-Kirin shareholders voted overwhelmingly in favour of the move today (17 September).
Kirin has already sealed approval from both Australia's Foreign Investment Review Board and New Zealand's Overseas Investment Office for its A$3.3bn (US$2.6bn) acquisition of Lion Nathan.
The deal is set to go before the Federal Court of Australia on 7 October and, if approved, may be closed by the end of that month.
Lion Nathan said in trading update in July that it expects to meet net profits guidance of A$305m-$315m for its full-year.
Kirin Holdings has blamed unfavourable currency rates and a weakened Japanese economy for a fall in sales and profits in 2009....
Japanese drinks group Kirin Holdings has appointed a new president and CEO as it looks to push on with plans to drive earnings, despite a breakdown in merger talks with Suntory....
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