Australia’s Bega Cheese to buy Kirin’s local dairy arm for $393 mln

Nov 26 (Reuters) – Australia’s Bega Cheese Ltd said on Thursday it will buy the local dairy assets of Japanese drinks giant Kirin Holdings Co Ltd for A$534 million ($393.29 million).

Australia’s top cheesemaker plans an equity raise of A$401 million to fund a portion of the purchase of Kirin’s Lion Dairy & Drinks, the company said.

$1 = 1.3578 Australian dollars Reporting by Nikhil Kurian Nainan in Bengaluru Editing by Chris Reese

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