UB Group has reportedly earmarked New Zealand's Independent Liquor as a potential takeover target, reports Just-Drinks.com, quoting the Asia Pulse news agency.

The Indian drinks giant is understood to be mulling a bid for Independent, which last week invited offers for the company.

Independent, which produces RTD brands including Vodka Cruiser, Mudshake and FX, is believed to be worth up to US$839m. "We may make a bid once the valuation process is completed," an unnamed 'top' UB Group official told Asia Pulse.

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