Suntory is expected to list its food and beverage business

Suntory is expected to list its food and beverage business

Suntory Holdings has formally moved to have its beverage & food unit publicly listed on the Tokyo Stock Exchange, according to local reports. 

The group will use the money raised, expected to be around JYN500bn (US$5.03bn), to acquire businesses in emerging markets, sources told Jiji Press. Rumours of the listing plans surfaced last year, but Suntory said at the time nothing was confirmed. 

The group’s beverage and food unit is expected to gain a listing in the summer, it was reported.  

Suntory has yet to respond to an emailed request for comment from just-drinks.