US/CANADA: Molson Coors quiet on Foster's Group share sale
The North American brewer, which confirmed almost two years ago that it had bought a 5% stake in Foster's with Deutsche Bank as a swap counterparty, hit the news in Australia earlier this week when reports claimed it had cooled its interest in Foster's brewing division. Molson Coors chose not to comment on the reports.
However, in a fax, which was sent to Foster's and the Australian Stock Exchange, Deutsche Bank told the Australian beer and wine company today (16 September) that it has “ceased to be a substantial holder”. The 13-page fax details Deutsche Bank's Foster's Group share transactions dating from 17 August to 8 September, the date on which Foster's rejected a bid for its wine division.
When contacted by just-drinks, a spokesperson for Molson Coors reiterated his comments from earlier this week. “Our financial disclosures, including disclosures about our swap position, take place by means of our regular quarterly filings,” he said today. “As a matter of policy, we do not update such disclosures between filings.”
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