date:Feb 05, 2013
Japanese brewer and soft drink maker Kirin Holdings has agreed to sell its 15% stake in Fraser Neave (FN) to TCC Assets, a company owned by Thai billionaire Charoen Sirivadhanabhakdi, for SGD2bn ($1.61bn).
With this deal, Kirin is expected to receive a pretax profit of around JPY47bn ($506.74m).
The company had acquired 15% stake in FN in 2010 as part of an integrated beverages strategy to expand in Southeast Asia. However, with the recent changes in FN's ownership structure, the company shel