August 6, 2019 / 6:50 AM / 13 days ago

Kirin to take 30.3% stake in Fancl for $1.2 bln

TOKYO, Aug 6 (Reuters) - Japanese brewer Kirin Holdings Co Ltd said on Tuesday it would take a 30.3% stake in cosmetics company Fancl Corp for 129 billion yen ($1.21 billion) as it reduces its exposure to the shrinking domestic beer market.

Kirin’s strategy contrasts with peer Asahi Group Holdings Ltd that has snapped up overseas beer brands. ($1 = 106.5200 yen) (Reporting by Sam Nussey; Editing by Himani Sarkar)

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