Japan Food & Liquor Alliance has reached an agreement with Asrapport Dining for a private placement of 42.6 million new shares priced at CNY47 ($6.92) a share to raise CNY2bn ($294.84m).

The transaction will be effective from 1 August 2017 and increase Asrapport Dining’s stake from 10.4% to 31.7%.

Japan Food & Liquor is involved in the production and sale of food and alcohol products, while Asrapport operates restaurants.

Both companies involved in the transaction are based in Japan.

Japan-based Morinaga Milk Industry has reached an agreement to raise ¥10bn ($88.3m) through the issue of 15th series unsecured corporate bonds maturing on 23 July 2027.

"The sale is being carried out on a cash-free, debt-free basis."

The company has engaged Nomura Securities, SMBC Nikko Securities and Mizuho Securities as underwriters for the offering.

Reckitt Benckiser Group (RB) has signed a $4.2bn agreement with McCormick & Company to sell its RB Foods business, comprising Frenchs, Franks RedHot, and Cattlemens brands.

The sale is being carried out on a cash-free, debt-free basis. 

The target company intends to use net proceeds raised from the transaction to repay debts and focus on the recently acquired infant nutrition unit.