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Kirin Brewery Co. has completed its takeover bid for subsidiary Kirin Beverage Corp.

The brewer said today (16 June) that it has upped its holding in the subsidiary from 59.37% to 97.07% and will delist Kirin Beverage from the Tokyo Stock Exchange. Kirin Beverage will become a wholly-owned subsidiary of Kirin Brewery in October.

The brewer will purchase all received sell offers on 20,734,536 shares for around JPY69.7bn (US$606.4m), or JPY3,350 each.

Kirin Brewery intends to introduce a holding company system in July next year.


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