Lion Nathan’s board has agreed to the deal which will see Kirin Holdings buy all the shares in the company that it does not already own.
- Lion Nathan says the offer is worth $12.22 a share.
- The offer is subject to approval by the Foreign Investment Review Board and non-Kirin shareholders.
- The deal is expected to be finalised by September.
- Lion Nathan’s beer brands include XXXX, Tooheys and James Boags.
Lion Nathan chairman Geoff Ricketts says it is a full and fair offer which will ensure the Australian brewer is a success into the future. “Lion Nathan will remain an Australasian-based business, employing over 3,000 Australians and New Zealanders and producing some of the region’s best-loved brands with locally-sourced ingredients,” he said.
Mr Ricketts expects a smooth change in ownership. “I think August, September is when we’ll get a certain outcome,” “We don’t anticipate any great difficulties.”