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

[JAKARTA] Japan's Asahi Group Holdings Ltd 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, as part of a portfolio restructuring.

Potential terms of the deal were not disclosed.

Asahi said in a statement on Monday it holds 51 per cent of PT Asahi Indofood Beverage Makmur and 49 per cent of PT Indofood Asahi Sukses Beverage. Indofood CBP Sukses, which makes instant noodles, snacks and milk products, owns the remaining shares.

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.

REUTERS