January 5, 2017 / 12:01 AM / 8 months ago

Suntory says not considering IPO of U.S. unit

Suntory Holdings Ltd's President and CEO Takeshi Niinami speaks behind the company's alcoholic beverages during an interview with Reuters at the company headquarters in Tokyo, Japan, October 26, 2015. REUTERS/Toru Hanai

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

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