Update on acquisition of Foster’s assets

Rebecca Prescott26 Mar 2012

As part of Coca-Cola Amatil's (CCA) agreement with SABMiller, CCA had the right to acquire each of three Foster’s businesses including the Foster’s Australian spirit and spirit RTD business, the Australian non-alcoholic beverages business and the Fiji breweries and distillery in Fiji and Samoa.

CCA announced on 5 March that it had elected not to proceed with the acquisition of the Foster’s Australian spirit and spirit RTD business.

CCA has now revealed that, as part of its overall alcohol strategy, it has advised SABMiller that subject to regulatory approvals, CCA proposes to proceed with the acquisition of Foster’s Fiji Business through the acquisition of the 89.6% shareholding held by Foster’s in Foster’s Group Pacific Limited (FGPL) for a purchase price of approximately A$58m.

CCA also proposes to make offers to acquire the minority 10.4% shareholdings in FGPL. Discussions with SABMiller are continuing in relation to the potential acquisition by CCA of Foster’s Australian non-alcoholic beverage business.

Source: CCA

Related articles