By Annette Shailer

The Australian Federal Court approved Japanese brewer Kirin’s $3.5 billion takeover of Lion Nathan yesterday (Oct 8).

The scheme of arrangement between Lion Nathan and its non-Kirin shareholders will see Kirin acquire all the remaining shares in Lion Nathan the company does not already own.

Lion Nathan ceased trading at close of business yesterday on the Australian and New Zealand stock exchanges finishing down 1c at $11.46.

Non-Kirin shareholders are set to receive $11.50 in cash per share on October 21 when the scheme is implemented when Lion merges with Kirin’s Australian dairy products, food and juice business, National Foods.

Lion Nathan National Foods will be one of Australia’s largest food and drinks group, employing more than 10,000 people and selling brands such as XXXX, Tooheys, James Boag’s, Berri fruit juices, Pura milk and Coon cheese.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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