• Kyodo News

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Sapporo Holdings Ltd. said Wednesday it has acquired a 95.83 percent stake in Canada’s third-largest beer maker, Sleeman Breweries Ltd., through a tender offer via subsidiary Sapporo Breweries Ltd. from Aug. 25 to Tuesday.

The acquisition cost about 281 million Canadian dollars (about 29.1 billion yen). Sapporo says it intends to purchase the remaining shares by next month to turn the Ontario-based company into a wholly owned subsidiary.

In the tender offer, Sapporo bought 16.08 million common shares at C$17.50 each. It had planned to buy 16.78 million shares.

Sleeman saw a net profit of C$8.10 million on sales of C$206.67 million in the year that ended last December.

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