Kirin Holdings Co. said Friday it bought an additional stake in Brazilian brewer Schincariol, making it a wholly-owned unit.
The Japanese firm said in a statement it signed an agreement to buy all outstanding quotas of Jadangil Participacoes e Representacoes Ltda., which holds 49.54 percent of Schincariol’s outstanding shares. Kirin previously purchased 50.45 percent of Schincariol.
The company said it bought the extra stake for Y105 billion in a transaction through cash on hand and loans.
“This additional acquisition will not only enhance Kirin’s governance over Schincariol as a wholly-owned subsidiary, but will also help Kirin further increase the competitiveness of Schincariol in the fast-growing Brazilian market and generate synergies with Kirin,” the company said in the statement. -By Hiroyuki Kachi