![#](https://e-malt.com/Images/left_top_corner16x200.gif) | E-Malt.com News article: Canada & Japan: Sapporo Breweries Ltd. gets state approval to buy Sleeman Breweries Ltd.![Brewery news](https://e-malt.com/Images/BeerBullet2.gif)
The Sapporo Breweries Ltd. unit of Japan's Sapporo Holdings Ltd. said October 10 Canada's Ministry of Industry had granted approval for its CA$17.50-a share offer to buy Sleeman Breweries Ltd., Reuters announced October 10.
The offer, valued at about CA$300 million (US$265 million) and which amounts to CA$400 million when the assumption of debt is included, is set to expire on October 17.
Sleeman already brews Sapporo beer in Canada under a licensing agreement.
Sleeman, Canada's third-biggest brewer with about 7 percent of the country's beer market, had hired an investment firm in May to consider selling the business and had agreed in August to accept Sapporo's offer.
(US$1=CA$1.13 Canadian)
11 October, 2006
|
|