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Business deals

Kirin to sell Australia dairy unit to local peer

Japanese brewer finds new buyer after deal with Chinese company hit snag

Kirin has agreed to sell its Australian beverage and dairy unit to local competitor Bega Cheese as the Japanese beer and beverage maker focuses more on health products.   © Reuters

TOKYO -- Japanese brewer Kirin Holdings will sell its Australian beverage and dairy subsidiary to Australian dairy company Bega Cheese, Nikkei has learned.

The sale price is estimated at more than 40 billion yen ($385 million). The deal is expected to be announced soon.

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