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."
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