ARTICLE: Foster's beer and wine divisions to separately list
Posted: Tue Feb 15, 2011 1:55 pm
Foster's beer and wine divisions to separately list
MEREDITH BOOTH and AAP
From: AdelaideNow February 15, 2011 9:55AM
BEER and winemaker Foster's Group will split its beer and wine operations into two separately-listed companies.
The company announced long-awaited details of the demerger alongside a 12 per cent fall in first half net profit to $312 million.
Under a scheme of arrangement, shareholders would retain their existing shareholding and receive one share in the new wine entity for every three Foster's shares held, the company said.
The demerger would cost $151 million and be completed by May.
http://www.adelaidenow.com.au/business/ ... 6006184071
MEREDITH BOOTH and AAP
From: AdelaideNow February 15, 2011 9:55AM
BEER and winemaker Foster's Group will split its beer and wine operations into two separately-listed companies.
The company announced long-awaited details of the demerger alongside a 12 per cent fall in first half net profit to $312 million.
Under a scheme of arrangement, shareholders would retain their existing shareholding and receive one share in the new wine entity for every three Foster's shares held, the company said.
The demerger would cost $151 million and be completed by May.
http://www.adelaidenow.com.au/business/ ... 6006184071
