Japanese brewer Asahi has pared down its purchase to only thenmineral water and juice businesses of Australian soft drinks producernP&N Beverages under a revised deal for AUD188mn (US$203mn)nas it seeks to win regulatory approval from the Australian Competitionnand Consumer Commission (ACCC). Previously, Asahi’s fullntakeover bid for P&N was blocked by the competition watchdog onnthe grounds that the takeover would significantly lessen competitionnin the Australian soft drinks sector. At the same time, Asahi hasnmade an offer for New Zealand fruit juice and soft drinks producernCharlie’s Group amid its diversification efforts. These businessesnrepresent good fits for the Japanese brewer’s portfolio and shouldnprovide a strong boost to the company’s growth.
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