Kirin Holdings Co. said Monday it is still in talks to invest in San Miguel Corp.'s Australia dairy and juice unit.
Kirin, one of Japan's biggest beer makers, will buy as much as 49 percent of San Miguel's National Foods Ltd. for 1.2 billion Australian dollars, or $1 billion, the Australian Financial Review reported earlier in the day.
"Nothing has been decided yet on the price or timing of any deal," said Hiroki Umezawa, a Kirin spokesman. "We remain in talks."