Deals
Suntory to Buy Lucozade, Ribena Brands for $2.1 Billion
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Suntory Beverage & Food Ltd. agreed to buy the Lucozade and Ribena drink brands from GlaxoSmithKline Plc for 1.35 billion pounds ($2.1 billion) as the Japanese company reduces reliance on its domestic market.
The transaction is expected to be completed by the end of the year and the proceeds will be used partly to reduce debt, Glaxo said in a statement today on the London Stock Exchange.