Kirin Holdings Co., Japan’s largest brewer, agreed to pay $1.34 billion for Temasek Holdings Pte’s 14.7% holding in Fraser & Neave Ltd. to boost overseas growth.
Kirin will buy 205.5 million shares for $6.50 each from Singapore’s state-investment company, the Tokyo-based beermaker said in a statement on its website yesterday. That’s 14.6% higher than yesterday’s closing price for the Singapore- based property developer that also makes Tiger beer while bottling and marketing Coca-Cola Co. products such as Sprite.
