Kirin HD Australia Beverage Business Cancellation of sale to Chinese company August 25, 11:26
Kirin Holdings Inc. has announced that it has withdrawn its Australian beverage business from being sold to a major dairy company in China. While the conflict between Australia and China has deepened over the new coronavirus and the Hong Kong problem, it is not possible to obtain approval from the local authorities, so we are considering a new sale destination.
According to the announcement, Kirin Holdings Co., Ltd. has ceased the sale of its group company “Lion Beverage”, which operates soft drinks and dairy products in Australia, to the Chinese dairy giant “China Meng Milk Industry”.
Kirin decided to sell it for more than 45 billion yen last year and was under examination by the Australian authorities.
However, he said he had abandoned the sale because the authorities could not get approval.
Australia and China are deepening confrontation over the new coronavirus and the Hong Kong issue, and are believed to have influenced this examination.
Kirin Holdings will once again consider where to sell the business.