TOKYO (Reuters) - Suntory Holdings is not planning to list its U.S. spirits unit Beam Suntory Inc [BSI.UL] on the New York Stock Exchange, a top executive said on Thursday, denying a Japanese media report.
“We are not considering any listing in the U.S.,” Takeshi Niinami, the president of Suntory Holdings told reporters in Tokyo at a gathering of corporate executives to mark the start of the New Year
Beam Suntory, the world’s third-largest spirits company known for its Jim Beam and Maker’s Mark bourbons, was formed in 2014 when Suntory bought its U.S. rival Beam for $14 billion.
The Mainichi daily reported earlier that the Japanese food and beverages conglomerate was in talks with overseas investment banks about a listing of Beam, seeking funds to expand its footprint in emerging markets.
Reporting by Ritsuko Shimizu and Chris Gallagher; Editing by Stephen Coates and Biju Dwarakanath