CANADA: Molson Coors Kaiser sale "doubtful"
Molson Coors is more likely than not to keep hold of its Brazilian operations because of the huge potential of the market there, an analyst has said. This is despite a run of poor results from the company's Kaiser unit and the news earlier this year that Molson was reviewing the possibilities for the business.
Quoted in Canadian newspaper The Post, a Goldman Sachs analyst said there is a "one in three" possibility Molson Coors Brewing Co. management will recommend the sale of Kaiser, when the board meets on Thursday.
"We'd only view this as a positive if management lays out a clear and compelling case that this is value additive based on the large and attractive growth opportunity in this country and potential for launching Coors Light in the market," Goldman Sachs analyst Marc Cohen told The Post.
If it did go under the hammer Cohen believed the Brazilian division could go for between US$200m and US$400m.
Molson could also sell out for a lower sales price to secure a long-term distribution agreement for Coors Light.
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