Asahi bids for P&N, Charlie’s Juices
Japanese beverage giant Asahi has announced takeover bids for two major Australasian beverage companies, P&N Beverages and Charlie’s Juices.
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Asahi, which purchased Schweppes in 2009, has entered into a binding agreement to purchase 100{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of shares in P&N, which it will then divide, selling the company’s carbonated soft drinks and cordials arm on to Tru Blu Beverages, while retaining P&N’s water and juice businesses. The split comes as an attempt to appease the ACCC, which opposed the takeover in March on the grounds of reduced competition. AFN – Read more…
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