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Kirin to quit China JV
來源:  2022-01-14 16:02 作者:

Japan's Kirin is looking to sell all its stakes in a joint venture with beverage giant China Resources for 100 billion yen (HK$6.81 billion) to focus on hand-made beer, Nikkei Asia reported, citing anonymous sources.


The Japanese brewer plans to sell its 40 percent stake in China Resources Kirin Beverages to a Chinese fund and the transaction is expected to close next month at the earliest, according to the report.


Kirin intends to shift its focus to more high-value-added sectors such as craft beer and away from China's sluggish soft drinks business, the report added.


In 2011, Kirin invested 33 billion yen to establish China Resources Kirin, which produces and sells coffee and tea beverages such as "afternoon milk tea" in the mainland.


Kirin is in the process of making final adjustments to its contract with the Chinese fund and the brewer is expected to record a gain on sale for the transaction, the report further said.


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