Japan's Suntory in talks to buy Lucozade, Ribena drink brands
TOKYO (AFP) - Japanese drinks giant Suntory Holdings is in advanced talks to buy the Lucozade and Ribena soft drinks brands for a possible US$1.56 billion (S$2 billion) from British drugs firm GlaxoSmithKline, a report said on Friday.
Japan's leading Nikkei business daily said its Suntory Beverage & Food unit has emerged as a "major candidate" to buy the two brands.
A source in London told AFP on Thursday the two sides were discussing the move, after GSK in April confirmed plans to sell the Lucozade energy drink and Ribena fruit juice as part of plans to restructure its European operations.
Analysts said a sale net the British firm a total of £1.0 billion (S$1.28 billion).