According to the Australian Financial Review, the Australian beer and wine producer, Foster’s Group, could net as much as A$1.35 billion (US$870m) from the sale of its pubs and gaming operations.
Foster’s said it expected to choose between the bid for the businesses from Newbridge Capital and a proposal for a float by Macquarie Bank, at a board meeting this week.
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The group’s pubs and gaming division, trading as Australian Leisure and Hospitality, is expected to record earnings before interest, tax, depreciation and amortisation of A$162m in the year to June, with EBITDA forecast to rise to A$188m in 2004.
