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Food & Beverage

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

Drinks company set up its China joint venture in 2011

Japanese drinks company Kirin Holdings is selling shares in its Chinese water business for over $990 million.

TOKYO (Reuters) -- Japanese beverage maker Kirin Holdings said on Wednesday it is selling shares in its Chinese water business to Plateau Consumer for 115 billion yen ($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.

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