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Asia/Australia
At the end of January 2007 Foster’s shares traded at AUD 6.67. That was significantly above the analyst’s average target price of AUD 6.54. Analysts agree that the company has experienced hard times in the wine industry since its AUD 3.2 billion takeover of Southcorp in 2005. Although wine now represents 60 percent of Foster’s assets it produces only 40 percent of the profit and the market is asking when the long-awaited turn-around is going to occur. Now what’s new about that? Haven’t they been waiting for a turn-around for years? Gentleman, let us tell you, you may be in for a long wait.
Asia/Australia
Anheuser-Busch has already invested about USD 1.3 billion in mainland China, the world’s largest beer market by volume, helping it become Anheuser-Busch’s largest overseas market and fastest growing. Anheuser-Busch has a 27 percent stake in Tsingtao Brewery Co. Ltd., China’s largest brewery. It also bought Wuhan Brewing Co. in 1995 and Harbin Brewery Group, the country’s fifth ranking beer company.
Asia/Australia
As if brewers needed a reason to raise prices on beer. This time Australia’s brewers may have found a new excuse: the poor barley harvest last year.
Asia/Australia
Seems like we are back in the 1990s: Three Australian craft brewers went public in December as the trend towards expensive beers has reached the stock market. The three craft breweries (Empire Beer, Gage Roads and Oz Brewing) are based in Western Australia and are collectively raising AUD 15 million via initial public offerings.
Asia/Australia
What will be the new look of business conglomerate San Miguel, having recently sold its entire 65 percent stake in its softdrink arm to joint-venture partner Coca Cola Co?
Asia/Australia
Investors must have been pleased that shortly before closing time Lion Nathan pulled away from an escalating price war, with a price tag of over AUD 1 billion for the company founded in 1987 by the late Michael Erceg, who died in a plane crash in November 2005. A sale of Independent Liquor has been pending since mid-2006.
Asia/Australia
If Kirin’s forecast were to materialise, this might be the time to pick up some shares in the brewer.
Asia/Australia
Although they could have leant back and watched their piles of money grow, Bob Oatley and his family, whose famous Rosemount brand kick-started the Australian wine export boom, and who sold out to Foster’s two years ago, have re-entered the industry – as vintners.
Asia/Australia
SABMiller’s Chinese venture, in which SABMiller has 49 percent, plans to pay USD 320 million or USD 42 per hl to buy the shares it does not own yet in the leading brewer in China’s Southwest.
Asia/Australia
According to reports in the Indian media, Anheuser-Busch is planning to enter the local beer market through a joint venture. Anheuser-Busch is expected to roll out its flagship Budweiser and another strong beer in the first half of 2007 in partnership with India’s Crown Breweries from a plant in the southern Indian city of Hyderabad.
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BRAUWELT on tour
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BRAUWELT on tour
