Japan: Asahi Breweries to acquire all of Asahi soft drinks

Asahi Breweries Ltd said it would launch a $477 million tender offer to buy out all minority shareholders in Asahi Soft Drinks Co Ltd as it tries to expand revenues from businesses other than domestic beer, which is seeing a slowdown in sales, Reuters reported October 25.

Asahi Breweries said in a statement it would be able to invest more of its group resources in its non-alcohol business by making Asahi Soft Drinks a wholly owned subsidiary.

It also said it would actively seek alliances and acquisitions in the industry.

The brewery said it would offer 2,120 yen per Asahi Soft Drinks share to raise its stake in the subsidiary to 100 percent from 51.17 percent, with the bid estimated to cost 54.42 billion yen ($477 million).

26 October, 2007