Foster’s Investors Approve Spinoff of Treasury Wine Unit
Foster’s Investors Approve Spinoff of Treasury Wine Unit
Apr 29, 2011 6
Foster’s Group Ltd. (FGL), Australia’s biggest brewer, said shareholders approved the spinoff of its Treasury Wine Estates unit into a separate company with almost 100 percent of votes backing the proposal.
About 0.3 percent of votes were opposed to the spinoff, Melbourne-based Foster’s said in a statement today. The plan, which still needs court approval, required 75 percent of the votes to succeed.
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