Asean F&B: Make Hay While the Sun Shines; Overweight
-Japan''s Suntory last week announced a deal to buy Lucozade and Ribena
in a USD2.1b deal. We believe there are more of such deals to come, with
the next target likely an ASEAN-centric brand. To add spice to the
competition, rival brewers may also be on the prowl.
-We believe that complementary soft drink brands and instant coffee may
represent some areas of interest. Heightened M&A activities will
drive overall sector valuations higher.
-We think companies such as Del Monte Pacific, Yeo Hiap Seng, Super Group and Old Town are attractive targets.
Click here for full report jameskoh@maybank-ke.com.sg
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