TOKYO -- Kirin Holdings announced Friday that it will launch a tender offer for Fancl, turning the Japanese maker of skin care products and dietary supplements into a wholly owned subsidiary in a bid to diversify amid a flat beer market.
Kirin currently holds a 33% stake in Fancl shares. It is expected to pay around 220 billion yen ($1.39 billion) to purchase the remaining shares and aims to complete the deal by the end of the year.
