Beverage maker Lion Nathan will be acquired by Japanese brewer Kirin, after shareholders today voted overwhelmingly in favour of the sale.
Kirin will pay $12 for each share in Lion Nathan the company does not already own. The deal values Lion Nathan at $8.3 billion on an enterprise value basis, the company told the ASX.
Nearly 92% of non-Kirin shareholders, holding 98.75% of the voting power, voted in favour of the merger.
The merged company will be the biggest single supplier to Australia’s supermarkets, with brands including Tooheys, Hahn and XXXX.
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