AUSTRALIA: Foster's pub sale to net A$1.35 billion

By | 11 August 2003

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.

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.

Sectors: Beer & cider

Companies: Foster’s

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AUSTRALIA: Foster's pub sale to net A$1.35 billion

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