Thai tycoon Sathien Setthasit said he plans to pour $300 million into helping his energy-drink company Carabao Group Pcl take on Red Bull in China, part of a push to expand overseas revenue. The shares rose the most in almost a month.
The outlay is earmarked for marketing and distribution in the next three years to tap rising Chinese demand for energy beverages, Sathien said in an interview. Sathien is Carabao’s chief executive officer, but is funding the investment via a separate company to avoid pressuring Carabao’s finances.
