US: Suntory close to water sale (reports)

By | 21 March 2003

According to reports in the US, the Japanese drinks group, Suntory, is close to completing the sale of its US home and office water delivery business, Atlanta-based Suntory Water Group.

Sources at Salomon Smith Barney, which was engaged by Suntory to assist in the sale, have reportedly suggested the deal will be worth around US$800m, about 10 times the company's EBITDA. Danone is thought to be the buyer though this has not been confirmed.

Suntory Water Group, which had sales of US$500m in 2001, said it did not comment on speculation.

Companies: Suntory, Danone

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