Japan’s Yakult Honsha has said it will buy the 50% stake that Singapore’s Cerebos Pacific owns in Yakult Singapore in order to make it a wholly-owned subsidiary.
Yakult, which makes fermented lactic drinks, will buy all 6 million outstanding shares from Cerebos, which makes products such as supplements, sauces and coffee, for around ¥1.5bn (US$12.8m) at the end of this month.
Yakult Singapore started out in 1979 as a 50/50 joint venture between Yakult and Cerebos.
Yakult said it plans to use its Singapore unit as a strategic base for its business in the Asia-Oceania region, reported Kyodo News.
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