25 Jul 2011

OIO approves Asahi's Charlie's bid

10:21 pm on 25 July 2011

Japanese brewer Asahi says the Overseas Investment Office has given it approval to buy juice maker Charlie's.

Asahi is offering 44 cents a share for the listed firm, a deal Charlie's independent directors are recommending shareholders accept.

Asahi now has acceptances giving it 53% of the firm. It needs 90% for the deal to go ahead.

Charlie's shares were unchanged at 43 cents in Monday trading.