USA: Suntory denies plans to list its US spirits unit on the New York Stock Exchange

Suntory Holdings is not planning to list its U.S. spirits unit Beam Suntory Inc on the New York Stock Exchange, a top executive said on January 5, denying a Japanese media report, Reuters reported.

"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.

06 January, 2017