Tags: sabmiller | fosters | beer | takeovers | acquisitions

SABMiller May Buy Foster's Beer Operations

Sunday, 22 Aug 2010 03:02 PM

SABMiller, the world's second-largest brewer, is considering buying the beer operations of Foster's Group, Australia's biggest brewer, for about 7 billion pounds ($10.9 billion), the Sunday Times reported.

SABMiller is planning to buy Carlton & United Breweries, the beer-making part of Foster's, the U.K. paper said.

A spokesman for SABMIller declined to comment.

Foster's could attract takeover bids of up to $10 billion from suitors including SABMiller and Japan's Asahi Breweries, after a long-awaited decision to split off its struggling wine business, Reuters reported in June.

Carlton & United Breweries, run by former navy weapons' engineer John Pollaers, generates around 85 percent of Foster's group earnings and has a profit margin of 38.5 percent.

SABMiller, the maker of Peroni and Miller Lite, gets about 85 percent of its profits from the emerging markets of Latin America, Africa and Asia.

© 2017 Thomson/Reuters. All rights reserved.

 
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SABMiller, the world's second-largest brewer, is considering buying the beer operations of Foster's Group, Australia's biggest brewer, for about 7 billion pounds ($10.9 billion), the Sunday Times reported. SABMiller is planning to buy Carlton United Breweries, the...
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2010-02-22
Sunday, 22 Aug 2010 03:02 PM
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