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Food & Beverage

Japan's Kirin to divest all shares in China soft drink venture

Brewer to sell stake to Chinese fund for around $870m to focus on craft beer sector

Kirin is exiting a tea and coffee business in China to focus on craft beer and other more profitable beverages.   © Reuters

TOKYO -- Japan's Kirin Holdings plans to divest all its shares in a Chinese soft drink joint venture with local beverage giant China Resources Holdings for around 100 billion yen ($874 million), Nikkei has learned.

The Japanese brewer is to sell its 40% stake in China Resources Kirin Beverages to a Chinese fund as early as next month, sources said, marking a turning point for the company's overseas business, whose earnings base remains mostly in Asia.

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