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Kirin to sell Brazil unit to Heineken's Bavaria for $700 mln
February 13, 2017 / 6:47 AM / 10 months ago

Kirin to sell Brazil unit to Heineken's Bavaria for $700 mln

TOKYO, Feb 13 (Reuters) - Japan’s Kirin Holdings Co said on Monday it would sell its Brazilian unit to Heineken NV subsidiary Bavaria S.A. for 2.2 billion Brazilian reais ($706 million).

The transfer will be executed immediately upon approval by Brazil’s antitrust agency, Kirin said in a statement.

Heineken had said last month it was in talks with Kirin over the deal. Brasil Kirin operates 12 breweries and was created in 2011 after Kirin paid 6.3 billion reais for Brazil’s Schincariol brand. ($1 = 3.1145 reais) (Reporting by Taiga Uranaka and Chang-Ran Kim; Editing by Kim Coghill)

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