Sapporo, Morgan Stanley team up on real estate

Japanese brewer Sapporo Holdings Ltd. has decided to sell a small stake to a fund run by investment bank Morgan Stanley and to work together in real estate development and ownership, a number of media outlets reported from Japan on Monday.

Bloomberg and Reuters said the real estate fund managed by Morgan Stanley would buy a 1.5% stake in Japan's third-largest beermaker, though there was no indication of the price of this investment. The fund will also pay Sapporo ¥50 billion ($437 million) for a 15% stake in Yebisu Garden Place, Sapporo's main commercial development in downtown Tokyo. In June, Morgan Stanley said it had raised an $8 billion fund to focus on real estate in North America, Europe, the Middle East and Asia. — Peter Moreira

See story from Reuters
See Brewers Dealwatch
See TheDeal.com story on Morgan Stanley's $8B real estate fund

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