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PNC says it has 10.32 pct passive stake in Brown-Forman
(Reuters) - PNC Financial Services Group Inc (PNC.N) said on Friday that it holds a passive 10.32 percent stake in Brown-Forman Corp (BFb.N), making it the alcoholic drink maker's largest shareholder, with shares worth $810.9 million.
As of July 31, PNC held 8,857,001 shares of Brown-Forman, according to a filing with the U.S. Securities and Exchange Commission. Shares of Brown-Forman closed at $91.56 on Thursday, giving PNC's investment a value of $810.9 million.
Brown-Forman, known for drinks such as Jack Daniel's Tennessee Whiskey, was not immediately available for comment.
Brown-Forman's next-largest shareholders include Atlas Brown Investment Advisors Inc and Vanguard Group Inc, which each held more than 5 percent of the company's shares as of March 31, according to Thomson Reuters data.
Brown-Forman announced a 3-for-2 stock split in July. The additional shares are expected to be distributed on Friday and the stock price is set to be adjusted on the New York Stock Exchange for trading beginning on August 13.
(Reporting by Jessica Wohl in Chicago; Editing by Gerald E. McCormick)
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