October 3, 2017 / 2:34 AM / 10 months ago

Asahi in talks to sell stakes in beverage business to Indonesian partner

JAKARTA (Reuters) - Japan’s Asahi Group Holdings Ltd (2502.T) said it is in talks to sell its stakes in two unlisted Indonesian beverage companies to its joint venture partner, PT Indofood CBP Sukses Makmur Tbk (ICBP.JK), as part of a portfolio restructuring.

FILE PHOTO: A man walks past the logo of Asahi Group Holdings at the company's headquarters in Tokyo, Japan, May 17, 2016. REUTERS/Toru Hanai/File Photo

Potential terms of the deal were not disclosed.

Asahi said in a statement on Monday it holds 51 percent of PT Asahi Indofood Beverage Makmur and 49 percent of PT Indofood Asahi Sukses Beverage. Indofood CBP Sukses, which makes instant noodles, snacks and milk products, owns the remaining shares. (bit.ly/2xcPzT4)

Indofood CBP Sukses said it is considering accepting Asahi’s offer.

“We believe that the future prospect of the non-alcoholic beverage business in Indonesia is still promising, in line with the growing middle-income segment and the rising income per capita,” it said.

Reporting by Eveline Danubrata; Editing by Edwina Gibbs

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