NHK has learned that Japan’s Sapporo Holdings has given preferential negotiating rights to overseas investment funds for the purchase of its real estate unit.
Sources say the beer maker has chosen a consortium including US investment fund KKR and Asia-based PAG as the preferred bidder.
Sapporo wants to focus on its main alcoholic beverage business. It has been seeking to sell most of its stake in its office buildings and commercial facilities subsidiary.
Sapporo said in February that more than a dozen firms and investment funds from both Japan and overseas had expressed interest.
The company said on Wednesday that it aims to decide on the future of its real estate business by the end of the year.
The sale is expected to raise around 400 billion yen, or about 2.6 billion dollars.
Sapporo plans to use the proceeds to bolster its beer business as it concentrates on core operations.
AloJapan.com