JAPAN: Sapporo quizzes US hedge fund on takeover bid

By just-drinks.com editorial team | 2 March 2007

Sapporo Holdings has reportedly asked US private equity firm Steel Partners for more information on its potential takeover bid for the Japanese brewer.

Steel Partners has proposed a plan to raise its stake in Sapporo from 17.52% to 66.6% but has indicated that it may in fact sell its shares should an attractive offer emerge.

According to a Reuters report yesterday (1 March), Sapporo, Japan's third-largest brewer, said it has given Steel Partners a questionnaire to deduce more information on its bid.

Sapporo has asked for information including the purpose and method of its tender offer and its plans for the management of the company, the report said.

Sectors: Beer & cider, Soft drinks, Water

Companies: Sapporo