SABMiller rakes in Foster’s

SABMiller has gotten the nod by the Australian government to take over local brewer Foster’s Group.

Sapa reports the deal valued the Melbourne-based company at $11.2bn. But the company’s Anglo-South African rival won’t just be able to sweep in and take over. Treasurer Wayne Swan imposed conditions that would require the company to keep brewing operations in Australia and keep the “iconic Australian brand portfolio”.

Foster’s brands include VB, Cascade, Crown Lager and Carlton Draught and the Australian rights to foreign brands Asahi, Corona and Stella Artois. The European rights to Foster’s lager have already been sold.

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