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Charoen Pokphand Foods to Acquire Majority Stake in Bottled Water Company

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Charoen Pokphand Foods (SET:CPF) subsidiary, CPF Food and Beverage, will invest about 334.7 million baht for a 51% stake in bottled water company Brew Factory, according to a Tuesday filing with the Thailand Exchange.

Shares of Charoen Pokphand Foods fell nearly 2% in Wednesday's morning trade.

The unit acquired 436,240 shares from sellers for 235.3 million baht and will subscribe for an additional 184,400 shares for 99.4 million baht within 30 days.

The acquisition will be funded through internal funds and expands the food and agro-industrial company's bottled water business.

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