Kirin Holdings Company, Limited (TSE:2503) proposed to acquire remaining 67.48% stake in Fancl Corporation (TSE:4921) for ¥230 billion on June 14, 2024. Under the terms of agreement, The Kirin group, owner of 'Ichiban' beer or 'Four Roses' bourbon, offered a cash payment of ¥2,620 (?15.74) for each FANCL share, which represented a 43% premium on the price. The transaction is subject to approval of merger agreement by target board. The Board of Directors of Fancl Corporation formed a special committee for the transaction. Financed through interest-bearing debt. The expected completion of the transaction is July 29, 2024. As of July 29, 2024, Kirin extends the term of its purchase offer for 66% of the cosmetic group FANCL to extend the Tender Offer Period to August 13, 2024, for a total tend the Tender Offer Period to August 13, 2024, for a total of 40 business days of 40 business days. As of August 6, 2024, the offer price has been revised to ¥2,800 and the offer period has been extended until August 28, 2024, for a total of 51 business days.
Nagashima Ohno & Tsunematsu as its legal advisor and Nomura Securities Co., Ltd. as its financial advisor to Kirin Holdings Company, Limited (TSE:2503). Mori Hamada & Matsumoto (?MHM?) and Uryu & Itoga as its own legal advisor and PLUTUS CONSULTING Co., Ltd and Plutus Consulting Co., Ltd. as its own financial advisor to Fancl Corporation.
Kirin Holdings Company, Limited (TSE:2503) completed the acquisition of 42.72% stake in Fancl Corporation (TSE:4921) for approximately ¥150 billion on September 11, 2024. Company will become a consolidated subsidiary of the Tender Offeror as of September 19, 2024. The Tender Offeror purchased 51,946,863 shares was not less than the minimum number of shares to be purchased 41,117,700 shares. Payment of the purchase price will be made in cash.
Kirin Holdings Co Ltd is a Japan-based company mainly engaged in the integrated beverage business and the pharmaceutical business. The Company operates in four business segments. The Domestic Beer and Spirits segment is engaged in the manufacture and sale of beer, low-malt beer, new genre products, wines and other liquor products in Japan. The Domestic Beverages segment is engaged in the manufacture and sale of soft drinks in Japan. The Oceania Alcoholic Beverages segment manufactures and sells beer, Western-style liquors in Oceania and other regions. The Pharmaceuticals segment is engaged in the manufacture and sale of pharmaceutical products. The Company is also engaged in the domestic wine business, North American beverage business, and the biochemical business.
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