Tuesday, 9th August 2011
In Business In Japan,
Judge blocks Japanese buy-out of Brazilian beer company
A judge has blocked the attempted purchase of a Brazilian beer company by Japanese outfit Kirin Holdings.
Judge Juliana Bicudo granted a request from three minority shareholders in Schincariol, the company which was the subject of the buy-out, according to the Associated Press.
Gilberto, Daniela and Jose Augusto Schincariol, the shareholders who own 49.55 per cent of the company, accused the other two shareholders - and their cousins - Alexandre and Adriano Schincariol of not following the correct processes.
The Brazilian judge ruled that the two selling partners ignored the rights of first offer and first refusal to the three siblings.
Kirin Holdings, which is behind Kirin Ichiban Shibori beer and Chateau Mercian Kikyogahara Merlot wine, will have to wait for 30 days to find out whether they will be able to acquire the firm.
In other brewery news, it was recently revealed that Asahi Group Holdings has put in a 100 billion yen (£791 million) bid to acquire New Zealand firm Independent Liquor.
Written by Susan Ballion
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