Arab Today, arab today foster\s takeover by sabmiller clears final hurdle
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

Foster\'s takeover by SabMiller clears final hurdle

Arab Today, arab today

Arab Today, arab today Foster\'s takeover by SabMiller clears final hurdle

Canberra - Arabstoday

An Australian state court has approved the takeover of brewer Foster\'s by SABMiller, meaning the deal worth $9.9bn Australian dollars ($10.2bn; £6.5bn) can now go ahead. On Thursday, more than 99% of Foster\'s shareholders voted in favour of the deal, while the Australian government gave its approval last weekend. Under the terms of the sale, management of Foster\'s operations and its brewing facilities will remain in Australia. The sale should go through this month. The deal between the two brewers was agreed in September, after Foster\'s rejected SAB\'s initial offer. There have been talks of a takeover of Foster\'s since it announced plans to split in two last year. The brewer spun-off its troubled wine business, which had been seen as deterring potential suitors. Any purchase of Foster\'s by SAB will not include the Foster\'s lager brand in the UK and Europe, where it is owned by Heineken.

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