News

AUS: Asahi left to stew on P&N Beverages deal

Most popular

Interview - Pernod Ricard CFO Helene de Tissot

Pernod breaks boundaries with Chinese distillery

The just-drinks Analyst returns

just-drinks speaks to Pernod CEO Alex Ricard

just-drinks meets Asahi Europe's CEO - II

MORE

Australia's competition watchdog has delayed its decision on Asahi's proposed takeover of P&N Beverages, raising concerns that it could reject the deal.

The Australian Competition and Consumer Commission will not report its decision on the Asahi, P&N Beverages tie-up until 16 December, it said this week. It originally planned to publish its findings in late-October, but it scrapped this deadline "to await further information from merger parties". 

The delay has renewed speculation that Asahi could struggle to get approval for its AUD364m (US$359.9m) takeover of P&N, which is the third largest soft drinks group in Australia. Asahi already owns the number two player, Schweppes Australia.

P&N Beverages would add around 50% to Asahi's current annual soft drinks sales in Australia, making the Japanese group a strong number two in the country behind Coca-Cola Amatil. Asahi said at the time of announcing the transaction that it expected P&N to achieve sales of JPY29bn in 2010. 

Should Asahi fail to complete the P&N takeover, there is speculation that its Japanese rival, Suntory Holdings, might seek to move in. Suntory owns Frucor, previously the soft drinks arm of Danone in Australia and New Zealand.

//i2.aroq.com/1/95885061.jpg

Related Content

Asahi lines up Australian domination at a price that's right - Analysis

Asahi lines up Australian domination at a price that's right - Analysis...

Anheuser-Busch InBev to offload Australia operations to Asahi

Anheuser-Busch InBev to offload Australia operations to Asahi...

FREE TO READ - just-drinks' Mergers & Acquisitions database - July 2019

FREE TO READ - just-drinks' Mergers & Acquisitions database - July 2019...

Health & wellness

Health & wellness "good for beer" - Asahi Europe CEO...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?