Kirin Holdings Co. has acquired all the remaining shares of Schincariol Group, a Brazilian beer and soft drinks producer, Kirin announced on Nov. 4, as it enters the fast-growing Brazilian market.
Kirin had announced on Aug. 2 that it had acquired 50.45 percent of Schincariol's shares. The company said the additional acquisition will help Kirin increase Schincariol's competitiveness in the Brazilian market.
Purchase price for the additional 49.54 percent stake in Schincariol was 2.35 billion Brazilian reals (105.8 billion yen, or $1.3 billion).
In addition, Kirin announced that it had settled a lawsuit with Jadangil Participacoes e Representacoes Ltda., which had owned the shares, over the purchase.
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