Foster’s rejects approach for wine business

Foster’s rejects approach for wine business

Australian lager giant Foster’s has rebuffed an unsolicited private equity approach for its wine business worth between AUS$2.3bn (€1.65bn) and AUS$2.7bn (€1.95bn) Australian dollars.

Foster’s said a demerger of the Treasury Wine Estates arm would offer the “best outcome” for shareholders.

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