News

AUS/NZ: Lion Nathan gets green light on Boag buy, brewery build

Most popular

Finally, proof the UK gin boom is over - Analysis

Interview - Diageo's chief digital officer - Pt I

We may be bored of gin, but is the consumer?

Interview - Pernod Ricard CFO Helene de Tissot

Soft drinks in 2019 - just-drinks' Review

MORE

Lion Nathan's purchase of Tasmanian brewer J. Boag & Son has taken a step nearer, with the trans-Tasman drinks company gaining informal approval for the acquisition from competition authorities.

The Australian Competition and Consumer Commission cleared the purchase, from San Miguel Corporation, on an informal basis today (19 December). Lion Nathan, which is 46%-owned by Japan's Kirin Holdings, said last month that it will buy Boag for A$325m (US$302.8m).

The transaction is dependant on Kirin, which holds a 20% stake in San Miguel, purchasing National Foods from San Miguel, also announced last month. Lion Nathan is also awaiting regulatory approval of the transaction from the Australian Foreign Investment Review Board, with both of these hurdles set to be cleared by the end of this month.

"Subject to the fulfilment of these conditions, Lion Nathan is expected to assume control of J. Boag & Son in early January 2008," the company said.

At the same time, Lion Nathan said it has been given the go-ahead to begin construction of a new brewery in Auckland, New Zealand. The Overseas Investment Office of New Zealand gave its consent today, meaning work will commence on the facility, which should cost Lion Nathan in the region of A$250m, early next year.


Related Content

In the Spotlight - Lion Nathan, Coca-Cola Amatil

In the Spotlight - Lion Nathan, Coca-Cola Amatil...

Lion back in the hunt

Lion back in the hunt...

CHINA: Diageo cautious on Shuijingfang deal

CHINA: Diageo cautious on Shuijingfang deal...

AUS/NZ: Lion Nathan sales up in year so far

AUS/NZ: Lion Nathan sales up in year so far...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?