Kirin to buy 15% stake in San Miguel - Brief Article

Modern Brewery Age, Dec 24, 2001

Kirin Brewery Co., Japan's No. 2 beer maker, said last week it will acquire about 15% of San Miguel Corp., the Philippines' largest food and beverage conglomerate, for about $540 million.

The deal marks Kirin's latest move to extend its presence overseas as it faces fierce competition in the saturated domestic beer market.

Kirin execs said that the deal would put Kirin's group sales to 5 million kiloliters a year, on par with Miller, the number six world brewer.