JAPAN/AUS: Kirin adds brewer to food stable
By: just-food.com | 7 October 2009
Australia's Federal Court today (7 October) approved Kirin Holdings' takeover of brewing group Lion Nathan.
The court gave the green light to Kirin's bid to acquire all shares in Lion Nathan that it does not already own, for a total A$3.3bn (US$2.6bn).
The ruling means Kirin has cleared the last hurdle in its attempt to gain full control of Australia's largest brewer, owner of the XXXX and Tooheys brands.
The takeover will be officially closed on 21 October, Lion Nathan said, with non-Kirin shareholders set to receive A$11.5 in cash per share.
Lion Nathan joins a Kirin stable that also includes Australian food groups Dairy Farmers and National Foods.
Kirin's formal acquisition of Lion now paves the way for Andrew Reeves, MD of the brewer's operations in Australia, to take the helm at National Foods.
Sectors: Dairy
Companies: National Foods
View next/previous articles
7 Oct 2009 -
Currently reading -
JAPAN/AUS: Kirin adds brewer to food stable
7 Oct 2009 -
Related research
This report analyzes the worldwide markets for Milk in Thousand Metric Tons...
Sauces, dressings and condiments in Pakistan to 2012
This Databook provides key data and information on the Sauces, dressings and condiments market in Pakistan. This report is a comprehensive resource for market, category and segment level data including value, volume, distribution share and company & ...
Related articles
AUS: Adverts for children’s foods “virtually ceased”
Advertising of high fat, sugar or salt foods on children's television has "virtually ceased" in Australia, according to a preliminary industry report released today (29 March).
AUS: Vitasoy invests in plant expansion
Vitasoy Australia is investing A$18m (US$16.4m) in the future of its Wodonga soy milk factory.
AUS: National Foods MD dissatisfied with 2009 numbers
The head of National Foods has admitted the Australian dairy group is still "some distance" off generating "acceptable" returns as the company integrates local firm Dairy Farmers.
There are currently no comments on this article
Be the first to comment on this article