Foster’s wine in the sights of US private equity businesses
Foster’s wine in the sights of US private equity businesses
Sep 20, 2010 6
PRIVATE equity firms Kohlberg Kravis Roberts and TPG have held early talks about teaming up to bid for the wine unit of Australian brewer Foster’s.The pair are yet to decide whether to proceed either together or separately, according to reports in Australia.In 2007, KKR and TPG united to take Texas-based Energy Future Holdings, formerly TXU, private in the largest leveraged buy out ever.The latest talks come after Foster’s rejected a private equity offer this month worth up to $2.5bn (£1.6bn) for its underperforming wine business, saying the bid was too cheap.
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