(Photo by Pornprom Satrabhaya)Tycoon Sathien Setthasit plans to pour $300 million into helping his energy-drink company Carabao Group Pcl take on Red Bull in China. Mr Sathien is Carabao’s chief executive officer, but is funding the investment via a separate company to avoid pressuring Carabao’s finances. "China has large growth potential for energy-drink consumption," Mr Sathien, 64, said in his office in Bangkok on Dec 4. Mr Sathien’s target is to double sales of the Carabao Daeng drink to 300 million cans in China in 2018. That’s the second highest among the country’s 50 largest stocks, adding pressure on Mr Sathien to make a success of the planned overseas expansion.

Source: Bangkok Post December 07, 2017 05:03 UTC