Kirin Holdings has secured enough shares to take over supplement-maker Fancl, its new president said, overcoming rival buying by an overseas fund and furthering the beermaker¡¯s transition into health care.
Takeshi Minakata, who rose to the top role in the company in March, said he wanted to declare victory when Kirin¡¯s tender offer was due to close on Wednesday, but financial regulations forced an extension to Sept. 11 after Hong Kong-based MY.Alpha Management lifted its stake in Fancl to around 10%.
¡°We are confident about it,¡± Minakata said in an interview Wednesday. ¡°It¡¯s a bit of a shame that investors will have to wait another 10 days, but our stance hasn¡¯t changed, nor the money amount, and we believe the Kirin group is the best partner for Fancl.¡±
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.