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Asahi denies reports of Orangina bid
Japan’s Asahi Breweries said it wasn’t in talks to buy soft drinks maker Orangina, denying a newspaper report that it was competing with Suntory Holdings in a $3.8bn auction.
Private equity firms Blackstone and Lion Capital, which acquired Orangina in 2006, are considering an approach from Asahi after an exclusive negotiation period with Suntory expired in August, the Financial Times reported.
Suntory is still favoured to buy Orangina, and a deal could be announced on Friday, the paper said.
“We are not in talks,” said Asahi spokesman Jin Yoshioka. “We have not been in such talks. We are not even considering such a move. There is no truth in this report.”
Source: Reuters
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