Kirin reaffirms Lion Nathan alliance

By Phil Boeyen, ShareChat Business News Editor

Wednesday 12th September 2001

Japanese brewing giant Kirin has reconfirmed its long-term commitment to Lion Nathan (NZSE: LNN).

Kirin and Lion have signed a letter of understanding reconfirming certain 'partnership principles', which they say provides a framework for working together.

Lion says the new agreement replaces the one entered into at the time Kirin bought into the company in April 1998 and covers a range of operational and governance issues.

These include a long-term shareholder commitment from Kirin and an intention not to move to majority ownership of Lion.

Kirin is also supporting Lion's three pronged strategy of building a strong platform in beer, growing a wine business and exploring related options in the leisure and hospitality market.

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