JAPAN: Kirin steps back from Heineken stand-off over Asia Pacific Breweries - report
The future ownership of Asia Pacific Breweries will not have a Japanese slant, according to Kirin's CEO
The president of Kirin Holdings has said the firm is only interested in the food and soft drinks operations of Fraser & Neave, not its Asia Pacific Breweries JV, according to reports.
Senji Miyake reportedly told journalists at Kirin's half-year results press conference today (3 August) that the Japanese brewer is "absolutely not" interested in making a move on APB, the brewing alliance between F&N and Heineken.
His comments came less than 24 hours after both Fraser & Neave and APB voluntarily applied to suspend trading in their own shares, "pending [the] release of [an] announcement".
Speculation about Kirin's intentions has grown following Heineken's offer to buy Fraser & Neave's stake in APB, brewer of Tiger beer. Kirin holds a 15% stake in Fraser & Neave (F&N).
Last month, both Kirin and Heineken were forced to deal with the arrival of a new player on the scene, after ThaiBev announced it would up its F&N holding to 24.1% by buying a 22% stake in the company owned by Oversea-Chinese Banking Corps (OCBC) and partners for SGD2.78bn (US$2.21bn).
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