Quantcast
Kirin to take 30.3% stake in Fancl for $1.2 billion - Metro US

Kirin to take 30.3% stake in Fancl for $1.2 billion

Reuters

TOKYO (Reuters) – Japanese brewer Kirin Holdings Co Ltd <2503.T> said on Tuesday it would take a 30.3% stake in cosmetics company Fancl Corp <4921.T> for 129 billion yen ($1.21 billion) as it reduces its exposure to the shrinking domestic beer market.

Kirin’s strategy contrasts with peer Asahi Group Holdings Ltd <2502.T> that has snapped up overseas beer brands.

($1 = 106.5200 yen)

(Reporting by Sam Nussey; Editing by Himani Sarkar)

More from our Sister Sites