31 August, 2006

Australia: Maturity of beer market makes less clear bids for Foster’s

Macquarie Research notes the speculation according to which SABMiller and InBev may be eyeing Foster's but it says while both have capacity, their desire is less clear, with neither showing an attraction to wine, Dow Jones Newswires released August 30.

Australian beer market is also relatively small and mature on a global comparison, it says, adding FGL's global reach limited by recent sales and complicated distribution agreements. The broker maintains its Underperform rating after FY06 results, reiterating its concern over the health of some of FGL's key wine brands. Foster’s stock last trade AU$5.86, down 1.5%.

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