AUSTRALIA: Foster's pub decision expected in month
Early in June Foster's confirmed that it was considering selling its pubs, hotels and restaurants business, in a move that would see it focus instead on its core wines and beers operations and net the company up to A$1 billion in any sale.
Investment bank Macquarie Bank has been conducting a review to help assess "strategic options in relation to the future ownership" of Foster's Australian Leisure and Hospitality unit, the nation's largest owner of pubs.
Among the options open to Foster's are an outright sale, the formation of a joint venture or placing the business in a trust.
However, according to sources, a trade sale to a private equity investor is the most likely option, ahead of a listing spin-off, or the less likely option of retaining the business.
A revised assessment by Southcorp's independent expert has valued the company's shares closer to the bid value offered by Foster's Group....
Australian liquor giant Foster's bid for winemaker Southcorp is gathering momentum....
As one takeover story trundles on, another one has just moved up a gear....
The chief executive of Foster's believes the global premium wine industry is on the upturn....
Foster's Group Ltd is expected to announce that it is lifting its offer for fellow Australian Southcorp, transforming three months of corporate hostility into a friendly takeover....
Shares in Southcorp and Foster's have been halted from trading, pending an announcement....
Southcorp's share price has dropped below the offer price made by Foster's for the first time today (18 April)....
Foster's Group is considering upping its bid for Southcorp prior to extending its offer once again....
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