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Asia/Australia
Finally! An official offer for Foster’s Group. After what has been the longest rumoured takeover in the history of the brewing industry, SABMiller is the first to come out of the woodwork. At the end of June 2011the world’s number two brewer made an AUD 9.51 billion (USD 10 billion) all-cash takeover offer for Foster’s, which was immediately rejected by Foster’s board. Foster’s thinks the offer undervalues the company.
Asia/Australia
What’s in a brewery? Only the value of the real estate. Given that Melbourne’s real estate prices have been soaring in recent years, any new owner of Foster’s might be tempted to close down Foster’s historic Abbotsford brewery (it’s located in a Melbourne suburb) and build a new brewery elsewhere. Abbotsford’s real estate is said to be valued at AUD 1 billion, whereas a new brewery could cost up to AUD 500 million. Sounds like Abbotsford’s fate is sealed.
Asia/Australia
So India is next for Molson Coors. Hope they know what they are in for. On 23 June 2011 Molson Coors and Cobra India announced the formation of a joint venture that will brew and market Cobra beer in South Asia.
Asia/Australia
Foster’s has sacked 100 workers from its Melbourne corporate headquarters. The staff – from the company’s back office, including the marketing and finance teams – were told of the redundancies on 6 June 2011. They join 50 workers from the Foster’s company’s Abbotsford brewery outside Melbourne who were made redundant last month.
Asia/Australia
AB-InBev and China Resources Snow Breweries (the SABMiller joint venture) are gearing up for expansion in southwestern China’s Guangxi region, a market that has long been dominated by Yanjing and Tsingtao breweries.
Asia/Australia
So much for stock market hype. As soon as the rumour broke that the most unlikely of buyers had set their eyes on Foster’s, shares in the brewer went up more than 7 percent early on 3 June 2011, raising its market capitalisation to USD 9.5 billion. It seems that investors must be getting so desperate for a deal that, if only for a second, they could believe a bid by Molson Coors and Mexico’s Grupo Modelo was in the offing.
Asia/Australia
Foster’s former wine unit, Treasury Wine Estates, which still happens to be the world’s number two wine company with vineyards from Hunter Valley near Sydney to California’s Napa Valley, ended its first day on the stock exchange (9 May 2011) with a market value of AUD 2.18 billion (USD 2.32 billion), near the top end of brokers’ valuations.
Asia/Australia
Do they quicken your pulse? Or get you into a state? Pre-mixed energy drinks with alcohol like “Pulse” have been quite the rage in recent years. Many people have been asking themselves: what’s the point of selling pre-mixed alcoholic energy drinks? Why mix stimulants (guarana, caffeine) and depressants (alcohol)? As these drinks send mixed messages to the nervous system, they could soon be banned. These fizzy drinks are popular with young people and contain alcohol and high levels of caffeine, allowing consumers to drink longer and harder.
Asia/Australia
Foster’s is no more. Shareholders of Australia’s Foster’s Group unanimously voted on 29 April 2011 in support of splitting the firm’s beer and wine operations, a decision that marks an historic event. The move will create Treasury Wine Estates, with AUD 1.9 billion (USD 2.1 billion) in revenues, while the new Foster’s will remain Australia’s largest brewer with revenues of AUD 2.6 billion (USD 2.8 billion).
Asia/Australia
The royal wedding – arentyousickofit? But it ain’t over yet. Now the world has been put into the know that Foster’s has sent a bottle (number 2904) of Foster’s 2011 Crown Ambassador Reserve Lager as a wedding gift to Prince William and Kate Middleton … the number marks their marriage date (29 April).
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BRAUWELT on tour
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BRAUWELT on tour
