Molson Coors to sell stake in Foster’s by January 2011

“This was always a flexible vehicle and we decided it was a good time to unwind it at a profit,” Mr Swinburn told analysts in London.

Foster’s shares gained one cent on 2 December 2010 to AUD 5.69 and have risen from AUD 5.15 since the demerger was flagged in May this year. Since the announcement, the Foster’s share price has climbed to its highest point in almost two years - reflecting strong investor support for this initiative.

In a letter to shareholders, Foster’s Chairman David Crawford said that a final decision on a demerger would not be made until a full analysis was completed.

An evaluation of the issues, costs and benefits to Foster’s shareholders, plus an assessment of prevailing economic and capital market conditions, was continuing, he said.

Shareholders would be required to approve a demerger if it goes ahead.