Heineken (Netherlands) will purchase Kirin’s (Japan) Brazilian beer operations, the Dutch brewer announced this weekend. Heineken will pay around US$ 706 million to the Japanese company, a lower value than the US$ 869 milllion mentioned at the beginning of negotiations. Kirin exists Brazil’s beer Market, after losing share and seeing raw material costs rise due to a weak currency.
The transfer of the unit to Heineken subsidiary Bavaria S.A. will be executed immediately upon approval by Brazil’s antitrust agency, Kirin said in a statement on Monday. Heineken had said last month it was in talks with Kirin over the deal. Brasil Kirin operates 12 breweries and was created in 2011 after Kirin paid 6.3 billion reais for Brazil’s Schincariol brand.