Foster's to demerge Beer, Wine units
Foster's to demerge Beer, Wine units
May 25, 2010 6
FOSTER'S unveiled plans to demerge its beer from its wine operations today, with separate listings for the two businesses.The beverage group said the decision would also be subject to a detailed evaluation of the issues, costs and benefits to shareholders and is unlikely to be implemented until first half 2011."Foster's wine business is showing signs of growth but continues to be impacted by oversupply in Australia, subdued consumer demand in key international markets and a strong Australian dollar during the 2010 financial year," said chief executive Officer Ian Johnson.
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