Japan's Kirin offers US$1.4bil for rest of skin care brand Fancl

Japan's Kirin Holdings said on Friday it was offering 220.7 billion yen ($1.4 billion) to acquire the rest of skin care brand Fancl Corp as the beer maker continues to pivot toward the health and wellness businesses.

Kirin, which currently holds a 33% stake in Fancl, will offer 2,690 yen for each share it doesn't already own. Fancl said separately its board was in favour of the deal.

The tender period will last from June 17 to July 29, and Fancl will be delisted at the completion of the transaction, Kirin said. The Nikkei newspaper earlier reported on the tender offer. - Reuters

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