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Asia/Australia
The family that controls South Australia’s Coopers Brewery, Australia’s major privately-owned brewer, has quietly changed the company’s century-old constitution, which could make it almost impregnable to a hostile takeover, Australian media reported in October 2014.
Asia/Australia
Could it be that Cargill is cutting off its nose to spite its face? The Age newspaper reported on 8 October 2014 that Cargill, the owner of Australian maltster Joe White, is suing Joe White’s former owner Viterra because Joe White allegedly supplied brewers with sub-standard products. These allegations were made in a Victorian Supreme Court lawsuit filed by Cargill against Canada’s Viterra, a subsidiary of Swiss resources group and commodities trader Glencore.
Asia/Australia
It’s a big worry. What is to be done if political correctness goes over the top like in Australia? International media reported on 9 October 2014 that the West Australian Opera company has dropped its production of the opera Carmen from its repertoire because it features smoking.
Asia/Australia
If BrewDog can open a bar in Tokyo – they did so in March 2014 -, something must be underfoot in this market. Although the big four brewers Kirin, Asahi, Sapporo and Suntory combined probably control 99 percent of all beer sold nationally, craft beer is gaining in popularity. The country’s 200 craft brewers presently account for 1 percent of overall beer sales in Japan, but the percentage is expected to increase to 2 to 3 percent by 2020.
Asia/Australia
Did Treasury’s board take the decision to put the company up for sale without consulting its major shareholders? Looks like it.
Asia/Australia
How the mighty have fallen. The state-run United Bank of India on 1 September 2014 became the first lender to declare Vijay Mallya a wilful defaulter, which in the world of business is the equivalent of a persona non grata.
Asia/Australia
Releasing its trading update for the half year ended 31 March 2014, Australia’s major brewer Lion announced on 7 August 2014 that across the entire group, revenue decreased 0.6 percent to AUD 2,674 million as Lion’s various businesses continued to face highly competitive market conditions.
Asia/Australia
Having fought off an AUD 4.70 per share bid from private equity outfit KKR earlier this year, Treasury Wine Estates probably thought they were safe from a takeover. Well, that pious hope only lasted until early August. The new AUD 5.20 offer from KKR and its partner Rhone Capital is large enough to force Treasury’s board to the negotiating table.
Asia/Australia
Australia’s third-largest brewer, Coopers Brewery, has valued itself at around AUD 500 million (USD 464 million) as it prepares to undertake another share buyback. Media report that shares in the company are worth AUD 357 each. Not bad for a brewer that sells around 750,000 hl beer.
Asia/Australia
In its first quarter trading update published on 24 July 2014, SABMiller said that sales at its Australian unit CUB fell by 6 percent, while volumes slipped by 3 percent.
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