Lion Nathan says Kirin offers A$12.22 a share

WELLINGTON, April 27 (Reuters) - Lion Nathan Ltd LNN.AX, Australia's second-largest brewer, said on Monday Japanese brewer Kirin Holdings (2503.T) had offered A$12.22 a share to buy the remaining 53.9 percent of the group.

Lion Nathan, the maker of XXXX Gold and Hahn beer, said the offer included A$0.72 fully franked cash payment, and valued Lion at A$6.5 billion ($4.7 billion) on an equity basis and A$8.2 billion on enterprise value.

Japanese brewers are aggressively expanding, seeking growth as their home market shrinks and Australia's high margin market, which operates as a duopoly between Foster's Brewing Group Ltd (FGL.AX) and Lion Nathan, has long been cited as appealing.

Investors had said a price benchmark was the A$11.50 a share Kirin offered to pay for Lion Nathan shares as part of the funding Lion needed for a failed A$7.6 billion bid for Australian bottler Coca-Cola Amatil Ltd (CCL.AX) last year.

Shares in Lion Nathan had been on a trading halt and closed on Wednesday at A$8.31. ($1=A$1.39)