Japan's Kirin to buy remaining stake of skin care company Fancl for $1.3 bln, Nikkei says (updated)
13/06/2024 16:23
(Adds more details in paragraphs 2-3)
June 13 (Reuters) - Kirin Holdings 2503.T will launch
a tender offer of about 210 billion yen ($1.34 billion) to buy
remaining shares of skin care products maker Fancl Corp 4921.T
it does not already own, the Nikkei newspaper reported on
Thursday.
Kirin currently holds a 33% stake in Fancl shares and aims
to complete the deal by the end of the year in a bid to
diversify, amid a flat beer market, according to Nikkei.
Fancl is expected to support the takeover by Kirin and
will be delisted when the acquisition is completed, the Nikkei
report added.
($1 = 156.9400 yen)
(Reporting by Himanshi Akhand in Bengaluru; Editing by Mohammed
Safi Shamsi)
((Himanshi.Akhand@thomsonreuters.com;))