October 12, 2011
Progress regarding the Acquisition of Schincariol Group Shares
As previously announced on August 2nd, Kirin Holdings Company, Limited (hereafter, "Kirin") acquired Aleadri-Schinni Participações e Representações S.A., a company that holds 50.45% of the outstanding shares of Schincariol Participações e Representações S.A. (hereafter, "Schincariol"). The minority shareholder of Schincariol filed a precautionary measure requesting the suspension of the effects of the transaction, and on August 4th, the 1st Lower Court of Itu, São Paulo, decided to grant partially the requests made in their precautionary measure.
Kirin filed an interlocutory appeal objecting to the decision at the São Paulo's Appellate Court on August 15th. And on October 11th, the Appellate Court revoked the injunction.
In the meantime, on September 2nd, the minority shareholder filed a main lawsuit at the 1st Lower Court of Itu. Under the consultation from its Brazilian attorneys, Kirin is proceeding ahead with full faith in the legality and validity of the transaction and does not foresee any problems.
- Kirin Holdings Inquiry Form: http://www.kirinholdings.co.jp/english/customer/
- Kirin Holdings Web Site: http://www.kirinholdings.co.jp/english/