Japanese drinks firm Suntory may make an early pounce for GlaxoSmithKline's Lucozade and Ribena brands in a move that would remove the need for an auction and likely disappoint some quarters of the private equity industry.Suntory, which already owns Orangina Schweppes after buying it four years ago for $3bn, is reported to be in advanced talks with GSK about buying the two iconic brands for more than £1bn. The Japanese company has been seen as a hot contender for the drinks brands since GSK hoisted the 'for sale' sign over them in April, as it looks to concentrate on its drugs and health-related products.The drugs giant said at the time it felt Ribena and Lucozade's growth potential particularly outside Western markets could be better leveraged by companies with existing category presence and infrastructure in these regions. But the sale was expected to attract interest from a number of private equity houses such as Blackstone, Cinven and KKR, as well as possible trade buyers and the auction process was set to start later this month.A final agreement has yet to be made.Shares in GSK were down 0.78% at 1,653p.TB