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KIRIN
BREWERY COMPANY, LIMITED ACQUIRES |
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| Tokyo,
January 11, 2005—Kirin Brewery Company, Limited (Kirin) today
announced that it had acquired 117 million class B shares of San Miguel
Corporation (SMC), representing 4.12% of the outstanding shares of SMC,
from the holdings of the SMC Retirement Plan. The shares were transacted
at a price of 75 pesos per share, with a total value of about 8.8 billion
pesos. Together with a previous investment in SMC in 2002, Kirin now holds
a 19.67% stake in SMC. SMC is the largest food and beverage company in the Philippines, and is expanding its operations in Asian-Pacific regions including Thailand, Malaysia, Indonesia, Vietnam, Australia and China. Kirin is targeting growth in its overseas alcohol beverages business in Asia and Oceania, and is building a strong operational base for business expansion in the region. In line with this approach, Kirin believes that SMC is the right partner to maximize business opportunities and bring synergies among Kirin Group companies in the region. President of Kirin Brewery Company, Limited, Mr. Koichiro Aramaki, said “San Miguel Corporation has been an important partner for us in Southeast Asia since our investment in 2002. San Miguel's strategy for Asia and Oceania fits well with ours, and I am confident that this transaction will be another successful step in strengthening our long-term partnership.” |
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Outline of SMC share purchase Outline of San Miguel Corporation |
