Kirin Holdings has ended merger talks with Japan-based drinks rival Suntory.
Kirin said today (08 February) that disagreement over the running of the merged entity was the reason for it “terminating” talks.
Go deeper with GlobalData
“Kirin had been negotiating on the premise that the new entity would be managed as a listed company in order to ensure appropriate management independence and transparency,” said Kirin. “However, it became apparent that Suntory held a different view on this matter,” the firm added.
“Kirin determined that even if negotiations were to continue, they were unlikely to result in the establishment of a company that would fulfill Kirin’s aim of developing as a leading global company and earn the understanding and approval of Kirin’s domestic and overseas customers, employees, shareholders and other stakeholders,” said the group.
The two companies announced that they were in merger talks in July 2009, but progress appears to have been slow in the period since then, with speculation that neither could agree on ownership of a merged entity.
A merger would have created Japan’s leading drinks company and could have been a stronger force in foreign markets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
