The Suntory stake sale has reaped US$55m for Pernod Ricard

The Suntory stake sale has reaped US$55m for Pernod Ricard

Pernod Ricard has garnered a payout of over US$50m from the sale of its stake in Japan's Suntory Holdings.

The French company said earlier today (4 April) that it has sold its 1% holding in Suntory for a cash consideration of JPY4.66bn (US$55.3m). The shares have been bought back by Suntory.

“The sale of the shareholding does not change the close relationship between the two groups and the ongoing development of their joint business in Japan, which continues to distribute certain Pernod Ricard brands,” said Pernod.

The drinks firm is set to announce its Q3 sales on 5 May.