Asahi Breweries was blocked from buying P&N Beverages last month

Asahi Breweries was blocked from buying P&N Beverages last month

Asahi Breweries remains committed to acquiring P&N Beverages Australia, according to reports.

Asahi's president, Naoki Izumiya, was reported by Bloomberg yesterday (11 May) to have said that it would like to conclude the acquisition "within the legal framework", as first planned. He did not disclose a completion date.

Last month, the company, which already owns Schweppes Australia, was blocked from buying P&N Beverages by Australia's Competition and Consumer Commission (ACCC). The watchdog said that Asahi's acquisition of privately-held P&N would significantly dent competition in the Australian CSD sector.

Schweppes Australia is the country's second biggest soft drinks player, although the market is dominated by Coca-Cola Amatil.