AUS: Foster's investors to vote on splitting bear and wine divisions
AUS: Foster's investors to vote on splitting bear and wine divisions
Apr 26, 2011 6
SHAREHOLDERS in liquor giant Foster's are expected to approve a split of the company's beer and wine divisions this week, in a move that will pave the way for one or both businesses to be acquired by larger global players.
A scheme of arrangement to effect the demerger will be put to a shareholder vote at a meeting to be held in Melbourne on Friday, and requires the support of at least 50 per cent of shareholders by number, with at least 75 per cent of the company's stock.
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