Kirin to sell shares in Chinese brewer

TOKYO: Japanese beverage maker Kirin Holdings said Tuesday it will sell its whole 25 percent stake in a Chinese affiliate to global giant Anheuser-Busch InBev.

With Kirin's share, the Belgium-based company will make Dalian Daxue Brewery Co. its wholly owned subsidiary, a Kirin spokesman said.

Kirin did not disclose financial details of the deal, which is waiting for China's official administrative approval.

"We wanted to respect the wishes of Dalian Daxue Brewery. In order for it to further express its strength and to increase its corporate value, it has chosen to join Anheuser-Busch," he said.

Kirin will continue to brew and sell its beer in China, and owns two other subsidiaries there.