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Business

Asahi to sell soft drink unit amid greater focus on Europe, Asia

Japanese beer maker rebalances assets after major acquisitions

Beverages manufactured by Asahi Group Holdings unit LB.

TOKYO -- Asahi Group Holdings will unload soft drink unit LB after the business, acquired over a decade ago, failed to generate the expected synergies.

The Tokyo-based company seeks to use the proceeds from the sale to pay down debt stemming from large acquisitions in recent years and to invest more in Europe and Asia, regions where it lacks a strong presence.

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