Foster’s Brewing Group, the Australian drinks giant, is to sell up to a third of its hotels and bottle shops after scrapping plans to demerge the $A800m ($421.2m) portfolio into a separate entity. Foster’s holds more than 150 pubs, 100 bottle shops and more than 6,000 poker machines in its Australian Leisure & Hospitality (ALH) division and the company has looked at several options for restructuring it.

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