Japan's Kirin to sell shares in Chinese water business for US$994 million

 

TOKYO: Japanese beverage maker Kirin Holdings on Wednesday (Feb 16) said it will sell shares in its Chinese water business to Plateau Consumer for 115 billion yen (US$994.21 million). 

Kirin said it expects to post 39 billion yen profit from the share sale, but is still studying any impact on earnings for the year ending December.

The announcement comes two days after the company separately said it would withdraw from its business in Myanmar and terminate its joint venture with a military-linked partner.