TOKYO May 15 Suntory Holdings Ltd
will aim for group sales of 4 trillion yen ($39 billion) by 2020
- about double what it achieved last year - of which a quarter
will come from Beam Suntory, President Nobutada Saji said.
Another 1 trillion yen will come from sales of beer, Saji
told a news conference.
The privately held beverage company bought U.S. spirits
company Beam Inc earlier this year for 1.6 trillion yen in
Japan's third-biggest outbound deal ever, investment of which
Saji said Suntory will be able to recover in about 15 years.
Saji said reaching the 1 trillion yen sales goal for the
combined Suntory-Beam unit will require more acquisitions.
Suntory will raise 300 billion yen in subordinated loans and
500 billion yen through long-term borrowing or bond issuance to
finance the purchase of Beam, Saji said, confirming a Reuters
report last week.
($1 = 101.8050 Japanese Yen)
(Reporting by Ritsuko Shimizu; Writing by Chang-Ran Kim)