Kirin to pay $978 million for Fraser and Neave stake

The Japanese beverage company agrees to acquire 14.7% of Fraser and Neave from Temasek in an effort to enhance its footprint and product offering in Asia-Pacific.

Tokyo-based Kirin Holdings, one of the largest food and beverage players in Asia, has agreed to buy a 14.7% stake in Fraser and Neave FN from Temasek, Singapore's state investment company, for S$1.335 billion $978 million.

Singapore-listed FN focuses on soft drinks and dairy products, and the deal marks the latest move by Kirin to acquire beverage companies in Asia-Pacific. FN operates through an extensive network in Southeast Asia and is the biggest...

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