Family-owned beverage company Suntory Holdings Ltd. of Japan is considering an initial public offering of stock in its core business in order to raise funds for overseas acquisitions,
the
Wall Street Journal
reported.
The company plans to raise up to 500 billion yen ($6.06 billion) through a Tokyo IPO of Suntory Beverage & Food Ltd., which bottles and distributes Pepsico products in Japan, the
Journal
article said.
According to the
Journal r
eport, Suntory’s founding family is expected to retain part of its stake in Suntory Beverage & Food.
A few years ago, merger talks between Suntory and Kirin Holdings Co. broke down over disagreements about who would own and run the combined company, the article said. (Source:
Wall Street Journal,
Dec. 13, 2012.)
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