E-Malt.com News article: Japan: Morgan Stanley may put up for sale its stake in Japanese brewer Sapporo

Morgan Stanley may sell its 1.8 percent stake in Japanese beer maker Sapporo Holdings, a move that could weaken its toehold in Japan's property business, Reuters communicated on July, 6.

The U.S. bank, which some analysts expect to log a second quarterly loss, has told the beer maker it could sell all or part of its Sapporo holdings, Sapporo said in a statement early this week.

Attracted by Japan's low interest rates and steady growth, Morgan Stanley bought shares of Sapporo in 2007 to cement a capital and business alliance, saying that it could raise its stake from the initial 1.5 percent to 5 percent.

A spokesman for Morgan Stanley declined to comment.

Sapporo, which trails Asahi Breweries Ltd and Kirin Holdings Co Ltd in Japan's competitive beverages market, earns the bulk of its profit from real estate.


08 July, 2009