Arab Today, arab today australia approves foster\s sale to sabmiller
Last Updated : GMT 18:42:37
Arab Today, arab today
Arab Today, arab today

Australia approves Foster\'s sale to SABMiller

Arab Today, arab today

Arab Today, arab today Australia approves Foster\'s sale to SABMiller

Sydney - AFP

Australia\'s government on Friday approved brewer SABMiller\'s Aus$9.9 billion (US$9.62 billion) takeover of Foster\'s, on condition that management operations remain in the country. \"The government welcomes foreign investment in Australia and continues to ensure that investments are consistent with Australia\'s national interest,\" said Treasurer Wayne Swan as he announced the approval. Given Foster\'s iconic status in Australia, he set certain conditions on the sale which would put the brand in foreign hands for the first time in its 150-year history. These include that management of operations remain in Australia. British-based SABMiller has also undertaken not to relocate any of Foster\'s existing brewing facilities offshore to produce beer for Australian domestic consumption and to continue to invest in its Australian brand portfolio. \"SABMiller has agreed to a number of undertakings which recognise the significance of Foster\'s to our economy and to our community, and support Australian jobs,\" said Swan. \"In addition to Foster\'s undertakings, I have taken into account SABMiller\'s plans to strengthen Foster\'s brand portfolio and work with its local employees to bring its global scale and expertise to the business. \"I also note SABMiller\'s current intention that Foster\'s operational employees will remain in their existing roles on the same or substantially similar conditions to those which they currently enjoy,\" he added. The Foster\'s board agreed in September to an improved offer worth Aus$9.9 billion, or Aus$5.10 per share, and the deal was also given the green light by the competition watchdog. A takeover had been expected since the group\'s recent demerger of its wine and beer operations and amid consolidation within the Australian beverage industry. With Lion Nathan already in the hands of Japanese brewer Kirin, the Foster\'s takeover will leave Coopers as the biggest Australian-owned beer company, with around four percent of the market.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia approves foster\s sale to sabmiller Arab Today, arab today australia approves foster\s sale to sabmiller

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia approves foster\s sale to sabmiller Arab Today, arab today australia approves foster\s sale to sabmiller

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday