The landmark verdict was delivered on a challenge made by Foster’s Australia to a May 2008 Authority of Advance Rulings determination deeming the transfer of intangible assets associated with British
BEER volumes for SABMiller’s Australian arm, the brewer Foster’s, have tanked, falling 13 per cent for the first half as the global beer company suffers from the loss of key brands in its local portfolio, termination of third-party distribution contracts … Continue reading
SABMiller’s Australian subsidiary, Foster’s Group Ltd (“Foster’s”), has been informed by Grupo Modelo S.A.B de C.V. that it intends to exercise a change of control provision terminating Foster’s licence to import and distribute Corona Extra in Australia with immediate effect.
Carlton United Brewers (CUB), an Australian brewer owned by Foster’s Group, said five global beer brands of SABMiller will become part of its international beer portfolio with effect from 16 January 2012.
SABMiller announces that it intends to appoint Ari Mervis, currently Managing Director Asia, as Managing Director: Asia Pacific and Chief Executive Officer of Foster’s with effect from 16 December 2011.
On 25 November 2011, the Australian Federal Treasurer on recommendation from the Foreign Investment Review Board (FIRB), approved SABMiller’s acquisition of Foster’s and the remaining 50% of Pacific Beverages.
SABMiller PLC will have to pay an extra A$582 million as part of its takeover of Foster’s Group Ltd. , after the Australian Taxation Office knocked back the planned structure of the deal.
As SABMiller mulls over the many ways it can extract hundreds of millions of dollars in efficiencies from the Foster’s Group – including overhauling its Victorian and NSW breweries – it will have one eye focused on this week’s tax … Continue reading
Australia’s competition watchdog has given the go-ahead to SABMiller’s (SAB.L) $10 billion friendly acquisition of brewer Foster’s Group (FGL.AX) as expected, saying the bid would not lessen competition.
SABMILLER will work quickly to repair the prickly relationship between Foster’s and its two biggest customers, supermarkets Coles and Woolworths, pushing for a collaborative approach to kick-start stalled growth in the beer category rather than relying on heavy price discounting … Continue reading