Kirin Holdings has acquired enough shares to acquire supplement maker Fancl, its new president said, preventing a foreign fund from buying the company and continuing the brewer’s transition into healthcare.
Takeshi Minakata, who rose to the top spot at the company in March, said he wanted to declare victory when Kirin’s public offering was set to close on Wednesday. But financial regulations forced him to extend the offer until Sept. 11 after Hong Kong-based MY.Alpha Management raised its stake in Fancl to about 10%.
“We are confident,” Minakata said in an interview Wednesday. “It’s a bit of a shame that investors have to wait another 10 days, but our position has not changed, nor has the amount of money, and we believe that Kirin Group is the best partner for Fancl.”
