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Korea M&A Corporation
Asahi, Suntory Approach Independent on Sale, Dow Jones Says 본문
Asahi Breweries Ltd. and Suntory Ltd. approached the owners of Independent Liquor about a possible sale of the Australian and New Zealand drinks group, Dow Jones Newswires reported.
Independent appointed UBS AG to consider the offers, which are not considered “knockout blows” at this stage, Dow Jones said, citing an unidentified person familiar with the situation. Independent is owned by buyout firms Pacific Equity Partners and CCMP Capital Asia, which acquired the business in December 2006.
The Japanese liquor makers are expanding overseas to limit the impact of stagnant domestic sales with the approaches to Independent’s owners coming less than a month after Suntory agreed to buy Danone SA’s Frucor soft-drink unit in New Zealand, Dow Jones said.
Independent, which produces pre-mixed spirit drinks such as Vodka Cruiser and Woodstock bourbon and cola, was acquired by the buyout firms for NZ$1.25 billion ($663 million), Dow Jones said.
“We have heard nothing,” Suntory spokeswoman Aya Takemoto said today. An Asahi spokesperson declined to comment or provide their name when contacted by Bloomberg today. Lauren Thompson, an external media adviser to Pacific Equity Partners, declined to comment. Calls to CCMP weren’t returned.