Heineken in advanced talks to buy Brazilian unit of Japan's Kirin Holdings
22 January, 2017, 00:47 | Author: Celia Hoffman
Ltd. confirmed Friday that talks over the sale of Kirin's Brazilian subsidiary were ongoing after Japanese media reports said the two sides were closing in on a deal for the foundering unit.
Brasil Kirin Holdings was created in 2011 with the $2 billion acquisition of Schincariol.
Heineken said in a brief statement that discussions were ongoing and that there could be no certainty that an agreement would be reached.
Japan's Nikkei newspaper earlier reported Heineken would pay around 100bn yen (£705.5m) for the business. But the business has been loss-making for some time and Kirin previous year said it was considering a potential sale after several attempts to turn it around.
John Colley, a Professor of Practice in the Strategy and International Business Group at Warwick Business School, stated: "Heineken's new Brazilian purchase will need investment for some years but in the medium term will be a good buy".
In September, Kirin was reported to be to be talking to a number of companies about possible partnerships for its struggling Brazilian beer business. Its main beer there is Kaiser, with the Heineken brand also gaining market share.
Brazil is the third largest beer market in the world, but has been hit by the country going into recession.
"Heineken has Brazilian operations which will allow some integration and it also has Femsa which is a major South American Brewer based in Mexico but operating throughout South America".
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