January 4, 2017 / 11:54 PM / a year ago

Suntory not considering listing US unit Beam

TOKYO, Jan 5 (Reuters) - Suntory Holdings Ltd said on Thursday it was not considering an initial public offering of Beam Suntory Inc, denying a media report that it was eying a listing of its U.S. spirits unit on the New York Stock Exchange.

The Mainichi newspaper had reported that the Japanese food and beverages conglomerate was in talks with overseas investment banks about a listing of Beam as it seeks funds to expand its footprint in emerging markets.

“There is no truth at all” to the report, said a Suntory Holdings spokeswoman in Tokyo.

Beam Suntory, the world’s third-largest spirits company known for Jim Beam and Maker’s Mark bourbons, was formed in 2014 when Suntory bought its U.S. rival Beam for $14 billion. (Reporting by Chris Gallagher; Editing by Stephen Coates)

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