Japan’s Kirin to sell China joint venture to investment fund

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Kirin is selling its China joint venture to an investment fund, shortly after the Japanese beer and beverage maker decided to pull out of Myanmar, where it had a beer brewery. The sale to Plateau Consumer, a Chinese fund, for 115 billion yen ($994 million) covers Kirin’s entire 40% stake in its soft drinks joint venture in China. Called China Resources Kirin Beverages, it was established in 2011. Kirin says the move comes amid a review of its investment portfolio, including foreign operations, under a management plan that runs through 2024.