Carlyle, Suntory In Race for GarudaFood Stake

Buyout giant the Carlyle Group and Japanese brewer Suntory are leading a race to buy a 30% stake in Indonesian consumer firm GarudaFood, Reuters reported, adding that the stake is worth more than $200 million. If Carlyle wins the bid it would be the firm’s first direct investment in Southeast Asia's biggest economy, Reuters wrote. The sale had attracted interest from private equity firms 3i Group Plc and Unitas Capital, but only Carlyle and Suntory made it to the final bidding.

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