Deals
Singapore Sports Drink Maker F&N Jumps on Thai Starbucks Deal
Commuters pass a Starbucks in a train station in Bangkok.
Photographer: Jewel Samad/AFP via Getty Images
This article is for subscribers only.
Shares of Fraser and Neave Ltd. got a jolt of caffeine after the company, controlled by Thailand’s richest man, announced plans to enter the Thai coffee market.
F&N, better known for its 100Plus isotonic sports drink, jumped the most in 10 months after saying its joint venture unit would buy out Starbucks Corp.’s operations in Thailand. The deal --- that people with knowledge of the matter said could value Starbucks’ operations there at more than $500 million -- sparked an early rally of as much 5.2% in F&N’s shares.