Pernod sells Suntory shareholding

04 April, 2011

Pernod Ricard has announced the sale of its minority shareholding in Suntory Holdings, which stands at around 1%.

Suntory, which recorded consolidated sales of 1.742 billion Yen (€14.5m) in 2010, has bought back the shareholding for a cash consideration of 4.66 billion Yen (€40m).

A statement from Pernod Ricard read: “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, principally Ballantine’s, Beefeater, Kahlua and Malibu.”

Pernod Ricard was advised in the transaction by Nomura and Nagashima Ohno & Tsunematsu.

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