San Miguel Brewery Acquires Group's Global Beer Business
SMB will acquire all the shares of SMBIL owned by SMC through a private transaction amounting to an enterprise value of US$300 million (approx. ¥27 billion).
18 Dec 2009 --- San Miguel Brewery Inc., a 48.39% owned company of Kirin Holdings Company, Limited have announced the signing of a Share Purchase Agreement with San Miguel Corporation for the acquisition of SMC's 100% interest in SMC's international beer business subsidiary, San Miguel Brewing International Limited.
SMB will acquire all the shares of SMBIL owned by SMC through a private transaction amounting to an enterprise value of US$300 million (approx. ¥27 billion).
SMB will prepare the necessary funds for this transaction itself. The transaction is expected to be completed in January 2010.
This acquisition of SMBIL was negotiated on an exclusive basis based on agreements made among Kirin, SMC and SMB in May 2009 when Kirin purchased SMB shares.
Through this transaction, SMB will acquire a platform for its beer business in Southeast Asia with high growth potential, and will obtain rights on the international San Miguel brand in certain countries. SMB intends to enhance its presence in the Asian beer market by promoting the San Miguel brand both in the Philippines and internationally, as well as by developing local brand strategies for its international business. Additionally, this transaction will provide opportunities for further development of the Asia focused strategies for Kirin, which has a strong partnership with SMB.
Kirin Group's long-term business vision, as outlined in "Kirin Group Vision 2015 (KV2015)", is to be a leading company in Asia and Oceania, and Kirin has been promoting a strategy in these regions of focusing on profitable operation.
Kirin will reinforce its alcohol platform in Asia and Oceania markets through SMB's acquisition of international business, and intends to continue its business activities through cooperation with SMB.
Kirin Group will constantly seek to nurture close bonds with its customers and offer the happiness of food and health, based on its marketing slogan oishisa wo egaoni - taste that makes you smile.
