Japan's Kirin Holdings is set to invest $30 million in beer maker B9 Beverages for a sub-10 per cent stake in the New Delhi-based company.
B9 Beverages was in talks with several international brewing majors, including Kirin, and other investors to sell a stake of up to 20 per cent in the company, media reports said.
The investment comes as a major boost for the beer maker amid the severe impact of the pandemic. The company has reported losses in the recent year. B9 expects this investment to help the company reach break-even in the upcoming financial year.
As per the reports, both the companies will explore business synergies post the investment. It would also boost Bira's plans to launch products in Japan later this year.
The deal is likely to complete in the next few days.
According to industry estimates, B9 Beverages is currently valued at around $300 million.
(To download our E-paper please click here. The publishers permit sharing of the paper's PDF on WhatsApp and other social media platforms.)
