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Foster’s notified of potential tax claim related to its former brewing business in India

Foster’s Group Limited has been notified of a potential A$39.5 million claim under an indemnity provided to SABMiller Group in relation to Foster’s former brewing business in India now owned by SABMiller, the company said on Wednesday.
The potential claim relates to a notice of demand issued by the Director of Income Tax in India to SABMiller for tax and interest. Foster’s is confident of the positions that were taken in relation to Indian tax. Those positions will be defended vigorously in the Indian Courts.
In the event that the demerger of Foster’s proceeds any liability under the indemnity will remain with Foster’s.

7 Apr. 2011

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