SABMiller interested in Foster's

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SABMiller interested in Foster's

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London based SABMiller is the latest name being reported as interested in buying Australia’s biggest brewer Foster’s.

The beer business of Foster’s is due to be split off from its ailing wine division next year.

However, the company, which supplies about half the beer drunk in Australia, has complicated debt and structural issues to be resolved before any sale could be completed.

Japan’s Asahi Breweries is the other name which analysts said keeps cropping up as a potential buyer.

Sources said Asahi, Japan’s second largest brewer, remains interested.

Like SABMiller, Asahi declined to comment on the reports.

No formal offers have yet come, but the takeover talk pushed Foster’s shares up to their highest level in more than two years.

The likely cost will be at least 8.5 billion euros.