Kirin Holdings Co. agreed to pay 2.35 billion reais ($1.35 billion) to buy out shareholders in Brazilian beermaker Schincariol Participacoes e Representacoes, three people familiar with the transaction said.
Kirin agreed to assume 1.1 billion reais of debt and and estimated 2.1 billion reais of potential labor, legal and tax liabilities as part of the deal, which puts an end to a court dispute with Schincariol investors Jose Augusto Schincariol, Daniela Schincariol and Gilberto Schincariol Junior, the people said on condition of anonymity because the agreement hasn’t been made public yet.
As part of the deal, former controlling shareholders of Schincariol agreed to provide 800 million reais as a guarantee for the debt, the people said.
Kirin agreed in August to pay 3.95 billion reais for Aleadri-Schinni Participacoes e Representacoes SA, which owned 50.45 percent of the Brazilian brewer.
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