Blackstone & Lion Capital in Talks to Sell Orangina to Suntory

Blackstone & Lion Capital in Talks to Sell Orangina to Suntory

Japanese beverage giant Suntory Holdings Ltd. is close to a deal to acquire Orangina SAS, maker of the famed soft drink, people familiar with the matter say.

A deal for Orangina, which could be reached this week, would mark the latest ownership twist for closely held Orangina, which bottles, distributes and franchises a range of soft drinks in Europe. The precise price couldn't be learned, but these people said it is likely to exceed the $2.6 billion that private-equity owners Blackstone Group LP and Lion Capital paid for it in 2006.

The talks are at a delicate stage, and a deal isn't guaranteed. Should it be consummated, it would mark the second time this week that a substantial European consumer deal surfaced after Kraft Foods Inc. launched a $17 billion offer for Cadbury PLC of the U.K. The potential deals show that after a period of inertia, the global mergers-and-acquisitions market may be coming back to life.