JAPAN: Snow Brand to sell wine division
Beleaguered Japanese dairy products company Snow Brand Milk Products Co. announced today that it would sell its wine-making subsidiary. The subsidiary is based in Yamanashi Prefecture, west of Tokyo. It will be acquired by a local confectionery producer for some ¥400m (US$3.3m). The transaction involves 176,000 shares in the wine unit, as well as its fixed assets.
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