Suntory to set up JV with Carlyle target GarudaFood
Indonesia’s GarudaFood plans to establish a soft drinks joint venture with Suntory, the Japanese corporate thought to have lost out to The Carlyle Group in the final round of bidding for a stake in the company. Suntory is looking to spend around $126 million on the joint venture, Reuters reported, citing the Nikkei.
Japanese consumer companies are keen to expand overseas to offset stagnation in their domestic market and fast-growing Indonesia is attracting a lot of attention. Meanwhile, there is uncertainty about...
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