F&N buys remaining 30% stake in Malaysian drinks maker for RM23.4m

FRASER and Neave Limited (F&N), which sells soft drinks, on Wednesday said it would buy the remaining 30 per cent of a Malaysian beverage manufacturer that it does not own, for RM23.4 million (S$7.5 million).

Its Malaysian unit, MDSB, has exercised a call option to acquire the remaining 30 per cent of Yoke Food Industries (YFI). YFI is in the business of manufacturing, marketing, distributing and exporting of beverages. The acquisition will be made in cash from internal sources.