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Tuesday, February 09, 2010
Suntory President: May Consider Share Listing If Funds Needed
By Hiroyuki Kachi
Dow Jones Newswires
TOKYO -(Dow Jones)- The president of Suntory Ltd. (SNT.YY) said Tuesday the privately held company may need to consider a share listing if it needs to raise funds for its future growth strategy, although the company isn't contemplating such a move at the moment.
Suntory President Nobutada Saji said the need for funds is the only factor that would prompt the company to undertake equity financing. "Other than that, there's no need for us to list," he said.
Saji made the comment after Suntory and Kirin Holdings Co. (2503.TO) Monday scrapped ambitious plans to merge and create one of the world's biggest brewers.
The merger plan, first unveiled last July, would have created a company with annual revenue of about Y3.8 trillion, rivaling the world's leading brewer, Anheuser-Busch Inbev N.V. (AHBIY), in terms of sales.
Copyright © 2009 Dow Jones Newswires
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