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Kirin Buys Into Into Koiwai Dairy
TOKYO - Jan 23/04 - SNS -- Kirin Beverage Corp. intends to buy 780,000 shares from Koiwai Dairy Products Co for 2.39 billion yen on April 1 to give it a 50.98% stake in the dairy product maker.
Under the alliance, Koiwai ill make use of Kirin Beverage's Japanese distribution network.
Both Kirin Beverage and Koiwai are subsidiaries of Kirin Brewery Co.. The brewery currently owns half of Koiwai, but its stake will be reduced 24.5% once the deal with Kirin Beverage is complete.
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