SABMiller swallows Foster's amber nectar
SABMiller, the FTSE 100 brewing company, has finally tied up its purchase of Foster's, the iconic Australian lager firm.
SABMiller, the FTSE 100 brewing company, has finally tied up its purchase of Foster's, the iconic Australian lager firm.
On Thursday, Foster's shareholders voted the deal through then on Friday the Supreme Court of Victoria gave the "scheme of arrangement" the legal rubber stamp.
The deal is worth £6.5bn and will see the owner of Grolsch and Coors Light get its hands on Foster's lager as well as the famous VB and Carlton Draught brands.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
As part of the deal SABMiller had to agree to keep the management of Foster's within Australia.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?
Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
-
MPs warn over Lifetime ISAs which could leave savers out of pocket
The Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”