JAPAN: Sapporo links with fund on non-alcoholic drinks

By | 31 October 2007

Sapporo Beverage Co. has plans to issue convertible bonds to an investment fund as part of a collaboration on non-alcoholic drinks, according to local reports.

The Japanese news service Asia Pulse reported today (31 October) that the subsidiary of Sapporo Holdings aims to issue approximately JPY3.8bn (US$33m) in convertible bonds to Crescent Partners to develop of new products and vending machines.

As part of the issuance, Crescent Partners is reportedly expected to appoint executives to Sapporo Beverage.

The report added that even if the convertible bonds were turned into stock, Sapporo Holdings would retain the majority of the voting rights in Sapporo Beverage.

Sectors: Soft drinks, Water

Companies: Sapporo

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