£1b bid for soft drinks

Last updated 10:37 01/07/2013

Ribena is a popular brand in the UK but it lacks global reach.

Relevant offers

Europe & Asia

£1b bid for soft drinks The Fed, China churn choppy waters China injects cash to ease credit crunch IMF warns threat to world economy Greek debt deal reaches limit - negotiator Downgrade set to dent tourism Prices may not follow euro fall Mass downgrade of eurozone countries Desert railway is Emirates' next mega-project EU leaders agree on sovereign debt fund

Private equity firms Blackstone and Lion Capital have teamed up to make a formal bid worth more than a £1 billion ($1.9b) for Lucozade and Ribena, the two soft drink brands put up for sale by drugmaker GlaxoSmithKline.

GSK has been focusing its consumer health operations on emerging markets and put Lucozade and Ribena - brands that are big sellers in Britain but lack global reach - up for sale as they no longer fit in with the company's portfolio.

Last month, GSK said it had appointed JPMorgan and Greenhill to advise it on the sale.

Blackstone and Lion Capital have appointed bankers at Rothschild to advise them on their bid, Sky News reported.

Ad Feedback

- Reuters

Special offers

Featured Promotions

Sponsored Content