Monday, January 23, 2017

Heineken confirms talks with Kirin in business in Brazil

Heineken, the world''s second-largest brewery, confirmed that is discussing the possibility of a deal for the Brazilian operations of Japanese Kirin.
The Brazil operates 12 breweries Kirin in the country and was created in 2011 after the Kirin paid R$ 6.3 billion for control of brazilian Schincariol. Heineken announced, a short statement that discussions were in progress and that there could be no certainty that any agreement would be reached.
Kirin already stated that continues focusing mainly on expansion in Brazil, but considers alternatives, including a strategic partnership or sale.
"We are considering all options, including a discussion with Heineken," said a spokeswoman for Kirin.
The company has lost market share in Brazil, with drop in sales last year, while the real weakened raised the price of some of the main raw materials.
The Japanese business daily Nikkei said earlier that Heineken would pay approximately of 100 billion yen (US $872,300,000) for the business. Such a price would reflect the current state of weakness of the Brazilian market that would allow Heineken to become Brazil''s second largest brewery. A Société Générale drinks analyst Andrew Holland said he believed that the main incentive the Heineken when trying to expand in Brazil would become a stronger rival in the heart of the AB InBev, which has taken the Dutch brewery markets.
DCI - 23/01/2017
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