Australian Brewer to Sell Wine Assets in Kirin Deal

As part of its proposed acquisition by Kirin Holdings, the Australian brewer Lion Nathan will sell its its wine assets worth as much as 29 million Australian dollars ($24 million), Bloomberg News reported.

The assets include grapevines, land and equipment in Australia and New Zealand. The sale also includes about 18 million Australian dollars of inventory.

Lion Nathan has recommended Kirin’s 3.5 billion Australian dollar offer for the 54 percent of the company it doesn’t already own. Investors are set to vote on the deal at a meeting scheduled for Sept. 17.