Suntory Beverage, PepsiCo to form Thai soft drinks JV (updated)

Suntory Beverage & Food

02/11/2017 06:18

(Updates sourcing to Suntory Beverage) 
    TOKYO, Nov 2 (Reuters) - Suntory Beverage & Food Ltd 
 2587.T  said on Thursday it has agreed to set up in Thailand a 
soft drink joint venture with PepsiCo Inc  PEP.N  in March, as 
it looks to expand in the Southeast Asian country. 
    The Japanese company will buy 51 percent of shares in 
International Beverage, PepsiCo's Thai beverage business, for 
around 33 billion yen ($289.63 million), it said in a statement. 
    The deal will have no effect on Suntory Beverage's earnings 
for the fiscal year ending Dec. 31, it added.  
         
 ($1 = 113.9200 yen) 
 
 (Reporting by Ritsuko Shimizu and Thomas Wilson; Writing by 
Chang-Ran Kim; Editing by Gopakumar Warrier) 
 ((ran.kim@thomsonreuters.com; +81-3-6441-1804; Reuters 
Messaging: ran.kim.reuters.com@reuters.net)) 
 
Keywords: SBF PEPSICO/THAILAND