Foster’s Group Ltd. ’s plan to spin off its wine unit may prompt bids from SABMiller Plc , Asahi Breweries Ltd. and other global beermakers attracted to the wider profit margins in Australia, fund managers said.
Foster’s Group Ltd. , Australia’s biggest brewer, named John Pollaers as the new chief executive officer of the company’s beer unit should its board proceed with plans to spin off the world’s second-largest wine business.
Adam Foster ’s annual wine production of 2,500 cases is a fraction of the sales of Foster’s Group Ltd. , the world’s second-largest producer. Yet it’s a factor in breaking up the rival he shares a name with.
Foster’s Group Ltd. , Australia’s biggest brewer, rose the most in almost three months in Sydney trading after a report SABMiller Plc may make a 7 billion pound ($11 billion) bid for its beer division.
Foster’s Group Ltd. rose to the highest in two and a half years in Sydney trading on speculation suitors will raise bids for its wine unit after the company rejected an offer worth as much as A$2.7 billion ($2.5 billion).