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Article: Kirin takes control of NZ's Lion Nathan. (Kirin Brewing Co.; New Zealand)

Article from:
Modern Brewery Age
Article date:
May 4, 1998
Copyright

It took Japan's Kirin Brewing Co. less than 10 minutes last week to take effective control of New Zealand brewer Lion Nathan Ltd.

Kirin announced early Monday it was bidding in the market to buy 161.1 million Lion Nathan shares, a 29.4 percent stake, via local brokerage BT Securities. It already held 15.6 percent bought from Lion Chairman Douglas Myers and other directors.

Kirin Brewery offered U.S. $3.00 (5.40 New Zealand dollars) a share in the market in its bid to buy 133.7 million shares unconditionally, and a further 27.4 million shares conditional to the vendors being small shareholders holding less then 10,000 shares each.

Within ten minutes of ...

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