The investment bank Morgan Stanley is to acquire a 1.5% stake in the Japanese brewer Sapporo Holdings by the end of the year.

The stake is part of a deal between the two businesses to work on Sapporo's real estate business and may see Morgan Stanley up the stake to 5% in the future.

As part of the plan to expand the real estate business, Morgan Stanley will also buy a 15% stake in Yebisu Garden Place, Sapporo's flagship commercial property in downtown Tokyo for US$437m.