Foster's wine bidders face twin headaches
Foster's wine bidders face twin headaches
Oct 12, 2010 6
Private equity firms running the ruler over Australian brewer Foster's wine business could baulk as the Aussie dollar's surge to 28-year highs has raised the unit's price tag by 20 per cent since a sale was first proposed.
Private equity managers say banks may also be less willing to lend for a cyclical asset dependent on fickle consumers, compared with the defensive credentials of hospitals operator Healthscope - sold in July for $2 billion in Australia's largest private equity buyout since the boom.
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