Skip to Content
Global News Select

Kirin Holdings to Sell 40% China JV Stake for $1 Billion

   By Kosaku Narioka 
 

Kirin Holdings Co. said Wednesday that it agreed to sell its entire 40% stake in the Chinese beverage joint venture it has with China Resources Enterprise Ltd. for about $1 billion.

The Japanese beverage company said it plans to sell the stake to Plateau Consumer Ltd., a Cayman Islands-based unit of Plateau Consumer Fund L.P.

Kirin said the sale is part of its business portfolio review and that its business tie-up in China with China Resources would continue.

Kirin said it will book an about 39.0 billion yen ($337.4 million) gain from the stake sale.

 

Write to Kosaku Narioka at kosaku.narioka@wsj.com

 

(END) Dow Jones Newswires

February 15, 2022 20:53 ET (01:53 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.