JAPAN: Suntory, Kirin edge closer to merger - report

By | 5 February 2010

Kirin Holdings and Suntory have moved closer to securing a deal to merge after solving a dispute over ownership of the new business, according to a report.

Suntory will take a stake of more than one third in the merged entity, according to Japanese newspaper Daily Yomiuri, which cited a senior Suntory official.

If confirmed, the agreement may pave the way for the two rivals to agree on a merger.

They announced that they were in talks back in July 2009.

Kirin said last week that it expects net sales and profits to be 19% and 26% respectively ahead of its original forecast for the 12 months to the end of December.

Sectors: Beer & cider

Companies: Suntory, Kirin

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JAPAN: Suntory, Kirin edge closer to merger - report

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