Japan's Suntory Spends $2B On Glaxo UK Drink Brands

Law360, New York (September 9, 2013, 1:51 PM EDT) -- Japan's Suntory Beverage & Food Ltd. agreed to put up £1.35 billion ($2.1 billion) for a pair of popular British drink brands currently owned by GlaxoSmithKline, giving a significant boost to a fast-growing European business, the companies said Monday.

Confirmation of the all-cash deal comes after reports surfaced last week that Suntory was in late-stage talks to take over the Lucozade and Ribena names, which had also drawn interest from a string of big name private equity firms, including Blackstone Group LP. The deal preempts an...
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