Japanese beverages firm Kirin Holdings is in talks to invest $70 million in Indian craft beer maker Bira, sources have said, doubling down on the fast-expanding South Asian market at a time when it is facing pressure on growth at home.
Kirin, which first invested $30 million in Bira for an under 10% stake last year, is set to pump in the additional funds at an equity valuation of $450 million, the sources said. Negotiations between the Japanese company and Bira’s owners are in the final stage, one of the sources said.
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