PepsiCo Invests in Thailand
June 8/Global English (Middle East and North Africa Financial Network) -- PepsiCo Inc and a Thai affiliate announced that they have taken control of Thai bottler Serm Suk Pcl in an expansion drive in Asia's third-largest bottled beverage market after China and India, Reuters reported. The maker of Diet Pepsi, Sierra Mist and Tropicana juice, and its partner Strategic Beverages (Thailand) Co. Ltd., now own 50.1% of Serm Suk after buying $20 million in a tender offer launched April 30.
PepsiCo and its partner had already owned 41.54% of Serm Suk with the rest held by Thai investors. The tender offer period ends on June 10.
Strategic Beverages, a joint venture between PepsiCo and senior Thai management of Pepsi-Cola (Thai) Trading, has offered to buy all of remaining 155.44 million shares, or 58.46%, of Serm Suk in a deal that could shake up and intensify the local beverage market.
From the June 8, 2010, Prepared Foods' Daily News
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