Kirin to buyout wine unit Mercian in $127 mln deal
Kirin to buyout wine unit Mercian in $127 mln deal
Aug 27, 2010 6
(Reuters) - Japan's top beverage maker, Kirin Holdings (2503.T), said it would acquire the shares it does not already own in Mercian Corp (2536.T) for about $127 million in stock to get a tighter grip on the scandal-hit wine maker.
Mercian announced in May that had it inflated profits over several years and booked a loss of 6.5 billion yen in August to account for false transactions, prompting a scolding from the Tokyo Stock Exchange.
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