Lion Nathan wraps up deal with Kirin

Lion Nathan’s Chairman Geoff Ricketts said in April he expected the deal to be finalised by August or September, but according to the timetable in the agreement, the deal is not anticipated to be wrapped up until October.

Lion Nathan revealed a healthy half-year profit on 20 May with earnings boosted by 7 percent to AUD 176 million in six months to 31 March 2009.

CEO Rob Murray remarked that Aussie drinkers continue to move away from mainstream beers to premium and international labels, low-carb and other specialty products and craft beers. Draught beers, in steady decline for the past decade, showed a welcome increase of 2 percent in the past half year.