Lion Nathan has agreed terms on a takeover by Japanese giant Kirin Holdings. The 54 per cent of the Australian brewer not currently owned by Kirin will be purchased for $12.22 a share, markedly above the $8.31 Lion was trading at when they went into a trading halt on Thursday morning. The offer values Australia’s second largest brewer at about $6.5 billion, higher than the $6 billion estimated by many analysts. Both companies have signed a scheme process agreement, with an acceptable Scheme... ...Read more »

Kirin Holdings, Japan’s second largest brewer, and San Miguel Corporation (SMC) have entered into an agreement for Kirin to purchase the 43.3% of San Miguel Brewery, Inc. (SMB), the largest brewer in the Philippines with a reported 95% market share. The investment will significantly contribute to Kirin’s further growth in its alcohol business in Asia and Oceania, the company advised. The move continues Kirin’s push for acquisitions that can increase their sales outside of Japan... ...Read more »

Cadbury announced overnight that it plans to sell their beverage division, Schweppes, in Australia. The official announcement was made as the company reconfirmed guidance of strong growth for their year. They noted, however, that Asia Pacific operations had performed well in spite of the “weaker trading in Australia” – which had been expected. Rumours of a sale have been circulating since May following the demerger of Cadbury-Schweppes in the US, which left Australia as the only... ...Read more »

The takeover of Dairy Farmers by Kirin subsidiary National Foods was officially completed on Tuesday, with the cheese joint venture between National Foods and Warrnambool Cheese and Butter (WCB) expected to begin operation early next year. Dairy Farmers Chairman Ian Langdon, who along with other directors will resign from the Dairy Farmers Board today, said the $910m acquisition of the business by National Foods stood to have a positive impact on Dairy Farmers’ shareholders as well as the... ...Read more »

The purchase of Dairy Farmers by National Foods will be implemented next week after receiving court approval today… Australian Co-operative Foods Limited (ACF), which trades as Dairy Farmers, today announced that the National Foods offer to acquire all of the shares in the Co-operative had been approved by the New South Wales Supreme Court. National Foods won shareholder approval last week for their $910 million proposal. ACF Chairman Ian Langdon said the court’s approval of the scheme... ...Read more »

Australian Co-operative Foods Limited (ACF), which trades as Dairy Farmers, and National Foods today announced that ACF members had approved the acquisition proposal by National Foods. On August 25 Dairy Farmers announced that National Foods had outbid other interested parties, with their $910 million offer. The deal involved a joint venture with Warrnambool Cheese and Butter for the cheese business of Dairy Farmers. National Foods have also since come to an arrangement to allow Fonterra to acquire... ...Read more »