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Kirin announces acquisition of shares in Fraser and Neave
Kirin Holdings Company has announced the signing of a share purchase agreement for the acquisition of shares in Fraser and Neave Limited.
This investment will enhance Kirin’s international integrated beverage group strategy in the Asia and Oceania regions. Kirin will acquire 205,500,000 shares in F&N (14.7% of total shares outstanding) from Seletar Investments Pte, a wholly owned subsidiary of Temasek Holdings (Private) Limited for S$6.50 per share.
The total consideration for the acquisition will amount to S$1,335,750,000 and the transaction is expected to be completed by 29 July 2010. Kirin will fund the acquisition through existing cash on hand and borrowings.
Kirin’s vision, as stated in its long-term strategic plan ‘KV2015’, is to be a leading company in Asia and Oceania in the area of food and health, and it has been pursuing its business strategy focused on growing profitability in these regions and areas.
Read the full Kirin press release here.
Source: Kirin
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