Heineken in talks with Kirin to buy Brazil business

Dutch brewer Heineken confirmed it is currently in discussions with Kirin Holdings about a potential acquisition of its Brazilian beer business.

“These discussions are ongoing and there can be no certainty that an agreement will be reached,” Heineken said, adding that further announcements will be made as appropriate.

The statement was made in response to an article in Japan’s Nikkei, which suggested Heineken could pay around 100 billion yen for the business.

Kirin Holdings also responded to the story on Friday, saying the report was not based on any comments the company had made.

“As announced on September 16, whilst Kirin continues to primarily focus on the self-growth acceleration of Brasil Kirin, Kirin is also considering alternatives including a strategic partnership. Kirin is reviewing all options regarding a potential transaction.”

At 0950 GMT, Heineken shares were up 0.2% to €70.81.