Japan’s Kirin completes acquisition of FANCL

Kirin acquired 51.95 million FANCL shares, raising its ownership to 75.24%.

Kirin Holdings Company Limited has announced the successful completion of its tender offer for shares in FANCL Corporation, acquiring 51.95 million shares and increasing its ownership to 75.24%

The acquisition follows the tender offer launched on 17 June, with the goal of making FANCL a wholly owned subsidiary.

Kirin had previously held 32.52% of FANCL shares and exceeded its target of 41.1 million shares.

Kirin's President and COO, Takeshi Minakata, said the acquisition will drive growth for both companies and enhance synergies, especially with Blackmores, as Kirin aims to become a major health science player in the Asia-Pacific region.

FANCL CEO Kazuyuki Shimada also emphasieed stronger collaboration and faster integration between the two companies. “We believe that we will be able to maximise synergies in a shorter period of time by enabling the sharing of know-how, technical information, etc. between the two groups, which has been limited in the past.” he said