Australia’s Federal Court today (7 October) approved Kirin Holdings’ takeover of brewing group Lion Nathan.
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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.
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By GlobalDataKirin’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.
