Kirin agrees to sell entire F&N stake to TCC Assets

TOKYO, Feb 1 — Japan’s Kirin Holdings Co Ltd said today that it would sell its entire holdings in Fraser and Neave Ltd (F&N) to TCC Assets Ltd as part of TCC’s mandatory public offer to buy out the Singapore conglomerate.

Kirin, which has about a 15 per cent stake in F&N, expects to receive a pre-tax profit of about 47 billion yen (RM1.6 billion) from the deal. — Reuters