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F&N injects fresh capital totalling S$115m, provides guarantees of up to US$272m to fund its Starbucks Thailand purchase

It ties up with Maxim's to acquire and grow the coffee chain's "fast-expanding" footprint of 372 stores in Thailand

Fiona Lam

Published Fri, May 24, 2019 · 09:50 PM

Singapore

FRASER and Neave (F&N) has made two capital injections totalling some S$114.8 million and provided guarantees of up to US$272.4 million, to facilitate its acquisition of Starbucks Thailand, which is expected to be completed by the end of May.

The mainboard-listed drinks maker announced on Thursday that it had, through Coffee Concepts (Thailand) (CCT), agreed to acquire the entire stake in Starbucks Coffee (Thailand), which manages and operates Starbucks retail coffee stores in the South-east Asian country.

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