Kirin moves in on San Miguel Brewery

Japan's Kirin is in exclusive discussions to buy San Miguel's beer business, which includes the Philippines' top four brands, in a deal worth an estimated $1.25 billion.

JapanÆs Kirin Holdings and San Miguel Corporation yesterday announced that they have signed a memorandum of understanding which includes an exclusivity clause for Kirin to acquire a further 43.25% stake in San Miguel Brewery. No financial details were disclosed, but based on San Miguel BreweryÆs last traded share price, the stake is estimated to be valued upwards of $1.25 billion.

Kirin and San Miguel Corporation have had a strategic and financial partnership since 2001. In December 2001, Kirin agreed to...

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